StockNews.com Begins Coverage on Steel Partners (NYSE:SPLP)

StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a report published on Sunday. The brokerage issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Price Performance

SPLP stock opened at $41.50 on Friday. The firm has a 50-day moving average of $41.11 and a two-hundred day moving average of $41.12. The firm has a market capitalization of $791.61 million, a PE ratio of 4.26 and a beta of 1.37. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. Steel Partners has a one year low of $34.55 and a one year high of $48.45.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 EPS for the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%. The firm had revenue of $497.92 million during the quarter.

Institutional Trading of Steel Partners

A number of hedge funds have recently made changes to their positions in SPLP. Teton Advisors Inc. lifted its position in shares of Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after buying an additional 500 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after acquiring an additional 3,300 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Steel Partners by 2.2% in the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after acquiring an additional 577 shares in the last quarter. Finally, De Lisle Partners LLP boosted its position in Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after purchasing an additional 10,377 shares during the period. 50.75% of the stock is owned by hedge funds and other institutional investors.

About Steel Partners

Steel Partners Holdings L.P., together with its subsidiaries, engages in industrial products, energy, banking, defense, supply chain management, logistics, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, Financial Services, and Supply Chain segments. The company fabricates precious metals and alloys into brazing alloys; manufactures and sells seamless stainless steel tubing coils; fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and woven substrates of fiberglass, quartz, carbon, and aramid materials for specialty applications.