Steel Partners (NYSE:SPLP) Earns Strong-Buy Rating from Analysts at StockNews.com

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

Steel Partners Stock Performance

NYSE SPLP opened at $39.50 on Friday. The stock has a market cap of $805.41 million, a PE ratio of 5.78 and a beta of 1.30. The company has a current ratio of 1.24, a quick ratio of 1.13 and a debt-to-equity ratio of 0.10. Steel Partners has a twelve month low of $33.12 and a twelve month high of $48.00. The stock has a fifty day simple moving average of $38.13 and a 200-day simple moving average of $10,209.98.

Steel Partners (NYSE:SPLP) last posted its earnings results on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share (EPS) for the quarter. Steel Partners had a return on equity of 16.61% and a net margin of 8.27%. The firm had revenue of $476.35 million for the quarter.

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. increased its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,200 shares of the conglomerate’s stock after buying an additional 400 shares during the quarter. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 as of its most recent SEC filing. 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.