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

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

Steel Partners Trading Up 0.9 %

Shares of NYSE:SPLP opened at $35.33 on Friday. The firm has a fifty day moving average of $39.31 and a two-hundred day moving average of $40.64. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. Steel Partners has a 12-month low of $27.95 and a 12-month high of $48.45. The firm has a market capitalization of $676.60 million, a P/E ratio of 3.62 and a beta of 1.01.

Steel Partners (NYSE:SPLP) last released its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%. The firm had revenue of $497.92 million during the quarter.

Institutional Trading of Steel Partners

A number of institutional investors have recently added to or reduced their stakes in the business. Teton Advisors Inc. raised its holdings in shares of Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after purchasing an additional 500 shares in the last quarter. HighTower Advisors LLC increased its position in Steel Partners by 2.2% during the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock worth $1,149,000 after buying an additional 577 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Steel Partners by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after buying an additional 3,300 shares during the last quarter. 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.