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

Equities research analysts at StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a note issued to investors on Tuesday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Trading Up 3.8 %

Shares of Steel Partners stock opened at $42.05 on Tuesday. Steel Partners has a 12-month low of $33.12 and a 12-month high of $48.45. The firm’s 50 day simple moving average is $42.05 and its two-hundred day simple moving average is $40.43. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $806.60 million, a price-to-earnings ratio of 4.31 and a beta of 1.38.

Steel Partners (NYSE:SPLP) last announced its quarterly earnings data on Friday, November 8th. The conglomerate reported $1.65 earnings per share for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%. The business had revenue of $520.42 million for the quarter.

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. De Lisle Partners LLP boosted its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,877 shares of the conglomerate’s stock after buying an additional 10,377 shares during the quarter. De Lisle Partners LLP owned approximately 0.12% of Steel Partners worth $924,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 50.75% of the company’s stock.

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.