Steel Partners (NYSE:SPLP) Coverage Initiated at started coverage on shares of Steel Partners (NYSE:SPLPGet Free Report) in a note issued to investors on Sunday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

NYSE SPLP opened at $38.58 on Friday. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.00. 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 firm has a market capitalization of $786.66 million, a P/E ratio of 6.01 and a beta of 1.26. The stock’s fifty day moving average is $38.03 and its two-hundred day moving average is $10,210.91.

Steel Partners (NYSE:SPLPGet Free Report) last issued 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 during the quarter. Steel Partners had a net margin of 7.92% and a return on equity of 16.41%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SPLP. Advisory Services Network LLC bought a new position in shares of Steel Partners during the first quarter worth about $287,000. BNP Paribas Arbitrage SA acquired a new position in shares of Steel Partners during the first quarter valued at $122,000. HighTower Advisors LLC grew its position in Steel Partners by 3.1% in the 1st quarter. HighTower Advisors LLC now owns 19,047 shares of the conglomerate’s stock worth $792,000 after purchasing an additional 573 shares during the last quarter. Finally, Teton Advisors Inc. boosted its holdings in shares of Steel Partners by 4.1% in the fourth quarter. Teton Advisors Inc. now owns 10,200 shares of the conglomerate’s stock valued at $408,000 after acquiring an additional 400 shares in the last quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

Steel Partners Company Profile

(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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