Analysts at StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP - Get Free Report) in a report issued on Thursday. The brokerage set a "strong-buy" rating on the conglomerate's stock.
Steel Partners Stock Performance
Steel Partners stock remained flat at $39.97 during mid-day trading on Thursday. The company had a trading volume of 10 shares, compared to its average volume of 5,183. The firm's 50 day moving average is $40.37 and its 200-day moving average is $38.47. The firm has a market cap of $815.11 million, a PE ratio of 4.33 and a beta of 1.35. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $42.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 1.15.
Steel Partners (NYSE:SPLP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share (EPS) for the quarter. Steel Partners had a return on equity of 21.44% and a net margin of 11.04%. The business had revenue of $533.16 million for the quarter.
Hedge Funds Weigh In On Steel Partners
A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. grew its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP - Free Report) by 22.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,500 shares of the conglomerate's stock after buying an additional 2,300 shares during the period. Teton Advisors Inc. owned approximately 0.06% of Steel Partners worth $496,000 as of its most recent filing with the Securities and Exchange Commission. 50.75% of the stock is 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.
Further Reading
Before you consider Steel Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Steel Partners wasn't on the list.
While Steel Partners currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
