Equities researchers at StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP - Get Free Report) in a research report issued on Friday. The brokerage set a "strong-buy" rating on the conglomerate's stock.
Steel Partners Trading Down 9.7 %
Shares of NYSE:SPLP traded down $3.88 during mid-day trading on Friday, reaching $36.12. 705 shares of the company were exchanged, compared to its average volume of 5,092. Steel Partners has a 1 year low of $33.12 and a 1 year 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. The firm's 50-day simple moving average is $40.33 and its 200 day simple moving average is $38.52. The firm has a market cap of $736.49 million, a price-to-earnings ratio of 3.91 and a beta of 1.36.
Steel Partners (NYSE:SPLP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share 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 during the quarter.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. increased its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP - Free Report) by 22.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,500 shares of the conglomerate's stock after purchasing an additional 2,300 shares during the quarter. Teton Advisors Inc. owned 0.06% of Steel Partners worth $496,000 at the end of the most recent quarter. 50.75% of the stock is currently owned by institutional investors and hedge funds.
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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