StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP – Get Rating) in a research report sent to investors on Thursday morning. The firm issued a strong-buy rating on the conglomerate's stock.

Steel Partners Stock Down 0.2 %

Shares of SPLP opened at $40.40 on Thursday. The company has a market cap of $879.79 million, a PE ratio of 6.86 and a beta of 1.44. The business has a fifty day moving average of $42.14 and a 200 day moving average of $42.21. Steel Partners has a 52-week low of $28.94 and a 52-week high of $47.62. The company has a quick ratio of 1.08, a current ratio of 1.26 and a debt-to-equity ratio of 0.41.

Steel Partners (NYSE:SPLP – Get Rating) last issued its quarterly earnings results on Friday, August 5th. The conglomerate reported $1.03 earnings per share (EPS) for the quarter. The company had revenue of $441.41 million during the quarter. Steel Partners had a return on equity of 12.15% and a net margin of 8.85%.

Insider Buying and Selling

Hedge Funds Weigh In On Steel Partners

Institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA purchased a new position in shares of Steel Partners during the first quarter valued at $122,000. HM Payson & Co. purchased a new position in shares of Steel Partners during the first quarter valued at $153,000. Advisory Services Network LLC purchased a new position in shares of Steel Partners during the first quarter valued at $287,000. FORVIS Wealth Advisors LLC purchased a new position in shares of Steel Partners during the second quarter valued at $388,000. Finally, HighTower Advisors LLC increased its stake in shares of Steel Partners by 3.1% during the first quarter. HighTower Advisors LLC now owns 19,047 shares of the conglomerate's stock valued at $792,000 after buying an additional 573 shares during the period. Hedge funds and other institutional investors own 88.82% of the company's stock.

Steel Partners Company Profile

(Get Rating)

Steel Partners Holdings L.P., through its subsidiaries, engages in industrial products, energy, defense, supply chain management, logistics, banking, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, and Financial Services 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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