Equities researchers at StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP - Get Free Report) in a research note issued to investors on Sunday. The brokerage set a "strong-buy" rating on the conglomerate's stock.
Steel Partners Stock Up 2.0%
SPLP stock traded up $0.75 during mid-day trading on Friday, reaching $38.00. The company had a trading volume of 318 shares, compared to its average volume of 3,452. The firm has a fifty day simple moving average of $38.31 and a 200 day simple moving average of $40.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The company has a market capitalization of $727.74 million, a price-to-earnings ratio of 3.90 and a beta of 1.21. Steel Partners has a fifty-two week low of $27.00 and a fifty-two week high of $48.45.
Steel Partners (NYSE:SPLP - Get Free Report) last issued its earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share for the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%. The firm had revenue of $497.92 million for the quarter.
Institutional Trading of Steel Partners
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Axxcess Wealth Management LLC acquired a new position in Steel Partners during the first quarter worth approximately $330,000. Teton Advisors Inc. increased its position in Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock worth $553,000 after buying an additional 500 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Steel Partners by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock valued at $4,123,000 after buying an additional 3,300 shares during the period. Finally, HighTower Advisors LLC increased its stake in Steel Partners by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock valued at $1,149,000 after purchasing an additional 577 shares during the last quarter. 50.75% of the stock is currently owned by institutional investors and hedge funds.
About Steel Partners
(
Get Free Report)
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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