Equities researchers at StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP - Get Free Report) in a report released on Thursday. The brokerage set a "strong-buy" rating on the conglomerate's stock.
Steel Partners Stock Up 3.4 %
Shares of SPLP stock traded up $1.15 during mid-day trading on Thursday, hitting $34.55. The stock had a trading volume of 753 shares, compared to its average volume of 3,802. Steel Partners has a 12-month low of $27.95 and a 12-month high of $48.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The firm's 50-day moving average is $39.64 and its two-hundred day moving average is $40.72. The firm has a market capitalization of $661.67 million, a P/E ratio of 3.54 and a beta of 1.01.
Steel Partners (NYSE:SPLP - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share for the quarter. The firm had revenue of $497.92 million during the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%.
Institutional Trading of Steel Partners
Institutional investors have recently modified their holdings of the company. Teton Advisors Inc. boosted its stake in Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock valued at $553,000 after acquiring an additional 500 shares in the last quarter. HighTower Advisors LLC increased its position in shares of 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 purchasing an additional 577 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in shares of Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock worth $4,123,000 after purchasing an additional 3,300 shares in the last quarter. 50.75% of the stock is currently owned by institutional investors.
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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