Steel Partners (NYSE:SPLP) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a research note released on Sunday. The firm issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Stock Performance

NYSE SPLP opened at $40.95 on Friday. 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 has a fifty-two week low of $33.12 and a fifty-two week high of $43.70. The stock has a market cap of $834.97 million, a P/E ratio of 6.00 and a beta of 1.35. The stock has a 50 day simple moving average of $39.05 and a two-hundred day simple moving average of $38.23.

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

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC increased its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 596,503 shares of the conglomerate’s stock after purchasing an additional 1,700 shares during the quarter. Gabelli Funds LLC owned approximately 2.93% of Steel Partners worth $22,207,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 50.75% of the company’s stock.

Steel Partners Company Profile

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.