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

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StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP - Free Report) in a research report released on Tuesday morning. The brokerage issued a strong-buy rating on the conglomerate's stock.

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Steel Partners Stock Performance

Shares of NYSE:SPLP remained flat at $35.51 during midday trading on Tuesday. 149 shares of the stock traded hands, compared to its average volume of 975. The business's 50-day moving average is $38.02 and its 200 day moving average is $10,210.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.17 and a current ratio of 1.27. The stock has a market cap of $724.12 million, a P/E ratio of 5.53 and a beta of 1.26. Steel Partners has a 12-month low of $33.12 and a 12-month high of $48.00.

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

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Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. raised its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP - Free Report) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,800 shares of the conglomerate's stock after acquiring an additional 318 shares during the period. Teton Advisors Inc.'s holdings in Steel Partners were worth $417,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 50.75% of the company's stock.

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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