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

StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research report report published on Tuesday morning. The firm issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Price Performance

Shares of SPLP stock opened at $35.51 on Tuesday. The company has a market capitalization of $724.12 million, a PE ratio of 5.53 and a beta of 1.26. The firm has a fifty day simple moving average of $38.02 and a 200-day simple moving average of $10,210.48. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21. Steel Partners has a twelve month low of $33.12 and a twelve month high of $48.00.

Steel Partners (NYSE:SPLP) last announced its earnings results on Friday, March 8th. The conglomerate reported $1.75 earnings per share for the quarter. The business had revenue of $466.91 million during the quarter. Steel Partners had a net margin of 7.92% and a return on equity of 16.41%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. HighTower Advisors LLC lifted its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,065 shares of the conglomerate’s stock after acquiring an additional 522 shares during the period. HighTower Advisors LLC owned about 0.11% of Steel Partners worth $1,023,000 at the end of the most recent reporting period. 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.