StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP - Free Report) in a report published on Wednesday morning. The firm issued a strong-buy rating on the conglomerate's stock.
Steel Partners Trading Down 14.6 %
Shares of NYSE:SPLP traded down $5.34 during trading on Wednesday, reaching $31.30. The stock had a trading volume of 143,004 shares, compared to its average volume of 3,752. Steel Partners has a 52 week low of $27.95 and a 52 week high of $48.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The firm's fifty day moving average is $40.67 and its 200 day moving average is $41.05. The stock has a market cap of $599.43 million, a price-to-earnings ratio of 3.21 and a beta of 1.01.
Steel Partners (NYSE:SPLP - Get Free Report) last released its earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. The company 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
A number of hedge funds and other institutional investors have recently made changes to their positions in SPLP. Gamco Investors INC. ET AL lifted its stake in 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. HighTower Advisors LLC grew its stake in shares of Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate's stock worth $1,082,000 after acquiring an additional 635 shares during the period. Finally, Teton Advisors Inc. increased its holdings in Steel Partners by 4.0% in 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. 50.75% of the stock is owned by hedge funds and other institutional investors.
Steel Partners Company Profile
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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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