Steel Partners (NYSE:SPLP) Now Covered by StockNews.com

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

Steel Partners Trading Up 2.4 %

Shares of SPLP stock opened at $42.00 on Friday. The stock’s fifty day moving average price is $38.61 and its two-hundred day moving average price is $38.12. The company has a market cap of $856.51 million, a PE ratio of 6.15 and a beta of 1.35. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $43.70. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26.

Steel Partners (NYSE:SPLP) last issued its earnings results on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share for the quarter. The firm had revenue of $533.16 million for the quarter. Steel Partners had a return on equity of 21.44% and a net margin of 11.04%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. grew its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 12,500 shares of the conglomerate’s stock after acquiring an additional 2,300 shares during the period. Teton Advisors Inc. owned 0.06% of Steel Partners worth $496,000 as of its most recent filing with the SEC. 50.75% of the stock is currently owned by 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.