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

Analysts at StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a report issued on Monday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

SPLP opened at $37.44 on Monday. Steel Partners has a 1 year low of $33.12 and a 1 year high of $48.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.27 and a quick ratio of 1.17. The company has a market capitalization of $763.42 million, a price-to-earnings ratio of 5.83 and a beta of 1.26. The firm’s fifty day moving average price is $38.06 and its two-hundred day moving average price is $10,210.69.

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

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. HighTower Advisors LLC boosted its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,065 shares of the conglomerate’s stock after purchasing 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 currently owned by institutional investors and hedge funds.

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.