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

by · The Markets Daily

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

Steel Partners Stock Down 1.2 %

Shares of Steel Partners stock opened at $41.50 on Friday. The company has a market capitalization of $846.31 million, a P/E ratio of 6.08 and a beta of 1.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 1.15. The business has a 50-day moving average of $38.69 and a two-hundred day moving average of $38.15. Steel Partners has a 1 year low of $33.12 and a 1 year high of $43.70.

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

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. grew its position in Steel Partners Holdings L.P. (NYSE:SPLP – Free Report) by 22.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,500 shares of the conglomerate’s stock after purchasing an additional 2,300 shares during the period. Teton Advisors Inc. owned approximately 0.06% of Steel Partners worth $496,000 at the end of the most recent quarter. 50.75% of the stock is owned by institutional investors and hedge funds.

Steel Partners Company Profile

(Get Free Report)

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.

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