Steel Partners (NYSE:SPLP) Coverage Initiated by Analysts at StockNews.com

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

Steel Partners Stock Down 2.0 %

Shares of NYSE SPLP opened at $41.14 on Monday. The stock has a 50-day moving average price of $41.13 and a two-hundred day moving average price of $41.21. Steel Partners has a 12 month low of $34.55 and a 12 month high of $48.45. 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 company has a market cap of $784.75 million, a price-to-earnings ratio of 4.22 and a beta of 1.37.

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

Hedge Funds Weigh In On Steel Partners

A number of hedge funds have recently made changes to their positions in the stock. Teton Advisors Inc. boosted its stake in shares of Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after purchasing an additional 500 shares during the last quarter. 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 valued at $924,000 after acquiring an additional 10,377 shares during the last quarter. HighTower Advisors LLC boosted its position in Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after acquiring an additional 635 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after acquiring an additional 3,300 shares during the period. 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.