StockNews.com started coverage on shares of Steel Partners (NYSE:SPLP - Free Report) in a report released on Saturday morning. The firm issued a strong-buy rating on the conglomerate's stock.
Steel Partners Stock Performance
SPLP traded up $0.99 during midday trading on Friday, hitting $37.00. 3,241 shares of the company were exchanged, compared to its average volume of 3,882. The firm has a market capitalization of $708.59 million, a price-to-earnings ratio of 3.79 and a beta of 1.21. Steel Partners has a 1-year low of $27.00 and a 1-year high of $48.45. The company's 50 day simple moving average is $38.70 and its 200 day simple moving average is $40.44. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.
Steel Partners (NYSE:SPLP - Get Free Report) last posted its earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. The business had revenue of $497.92 million for the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%.
Hedge Funds Weigh In On Steel Partners
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPLP. Axxcess Wealth Management LLC acquired a new position in shares of Steel Partners during the 1st quarter worth about $330,000. Gamco Investors INC. ET AL boosted 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 acquiring an additional 3,300 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Steel Partners by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock worth $1,149,000 after purchasing an additional 577 shares during the last quarter. Finally, Teton Advisors Inc. lifted 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. 50.75% of the stock is owned by hedge funds and other institutional investors.
About Steel Partners
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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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