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

StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a research report sent to investors on Friday. The brokerage issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Trading Up 4.6 %

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

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Wednesday, May 8th. The conglomerate reported $1.50 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 during the quarter.

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. raised its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,200 shares of the conglomerate’s stock after acquiring 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. 50.75% of the stock is owned by institutional investors and hedge funds.

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.