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

Analysts at StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a research report issued on Wednesday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Trading Down 1.2 %

Shares of SPLP stock opened at $40.49 on Wednesday. The stock has a market cap of $825.59 million, a P/E ratio of 4.38 and a beta of 1.35. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $43.00. The business has a fifty day simple moving average of $40.20 and a 200-day simple moving average of $38.40.

Steel Partners (NYSE:SPLP) last posted 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 during the quarter. Steel Partners had a net margin of 11.04% and a return on equity of 21.44%.

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Gabelli Funds LLC raised its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 596,503 shares of the conglomerate’s stock after acquiring an additional 1,700 shares during the quarter. Gabelli Funds LLC owned approximately 2.93% of Steel Partners worth $22,207,000 at the end of the most recent quarter. 50.75% of the stock is owned by institutional investors.

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.