Steel Partners (NYSE:SPLP) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP - Free Report) in a research note published on Friday. The brokerage issued a strong-buy rating on the conglomerate's stock.

Steel Partners Trading Down 2.1 %

Shares of Steel Partners stock traded down $0.75 during trading hours on Friday, hitting $34.55. The company's stock had a trading volume of 4,801 shares, compared to its average volume of 3,808. The company has a market capitalization of $661.67 million, a PE ratio of 3.54 and a beta of 1.01. 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 stock has a 50 day moving average of $38.92 and a 200 day moving average of $40.53. Steel Partners has a 12 month low of $27.95 and a 12 month high of $48.45.

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. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%. The business had revenue of $497.92 million during the quarter.

Institutional Trading of Steel Partners

Several hedge funds and other institutional investors have recently modified their holdings of SPLP. Axxcess Wealth Management LLC bought a new position in shares of Steel Partners during the first quarter worth about $330,000. Teton Advisors Inc. boosted its position in Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock worth $553,000 after acquiring an additional 500 shares during the last quarter. HighTower Advisors LLC grew its stake 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 acquiring an additional 577 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock valued at $4,123,000 after purchasing an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 50.75% of the company's stock.

About Steel Partners

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.