StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP - Free Report) in a report published on Sunday morning. The firm issued a strong-buy rating on the conglomerate's stock.
Steel Partners Stock Up 0.7 %
NYSE SPLP traded up $0.25 on Friday, hitting $38.50. 2,612 shares of the stock traded hands, compared to its average volume of 19,839. Steel Partners has a twelve month low of $33.12 and a twelve month high of $48.00. The company has a market capitalization of $797.72 million, a P/E ratio of 6.00 and a beta of 1.26. The stock has a 50-day moving average of $38.00 and a 200 day moving average of $10,210.94. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21.
Steel Partners (NYSE:SPLP - Get Free Report) last issued its quarterly earnings data on Friday, March 8th. The conglomerate reported $1.75 earnings per share (EPS) for the quarter. Steel Partners had a return on equity of 16.41% and a net margin of 7.92%. The business had revenue of $466.91 million during the quarter.
Hedge Funds Weigh In On Steel Partners
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPLP. HighTower Advisors LLC lifted its position in shares of Steel Partners by 3.1% during the 1st quarter. HighTower Advisors LLC now owns 19,047 shares of the conglomerate's stock valued at $792,000 after acquiring an additional 573 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new stake in shares of Steel Partners during the 1st quarter valued at $122,000. Advisory Services Network LLC acquired a new stake in shares of Steel Partners during the 1st quarter valued at $287,000. Finally, Teton Advisors Inc. lifted its position in shares of Steel Partners by 3.4% during the 3rd quarter. Teton Advisors Inc. now owns 9,800 shares of the conglomerate's stock valued at $417,000 after acquiring an additional 318 shares during the last quarter. 50.75% of the stock is owned by institutional investors.
Steel Partners Company Profile
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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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