Steel Partners (NYSE:SPLP) is now a buy on StockNews.com.

Steel Partners (NYSE: SPLP) was downgraded from a “strong-buy” rating to a “buy” rating by the investment professionals at StockNews.com, who communicated their decision to investors in a letter that was sent out on Friday.

On November 9th, the most recent quarterly earnings report for Steel Partners, traded on the New York Stock Exchange under the symbol SPLP, was made public. During the period that was the subject of the report, the company had earnings of $1.45 per share (EPS). In addition to having a net margin of 9.50%, Steel Partners successfully achieved a return on equity of 13.54%. The total revenue that the company raked in during the period in question was $425.67 million.
Over the past few months, several hedge funds and other types of institutional investors have made adjustments to the sectors of the economy in which they hold investments. During the second quarter, Steel Partners Holdings L.P. completed the purchase of an additional 7.8 percent of shares issued by Steel Partners. Steel Partners Holdings L.P. now directly owns 6,903,483 of the conglomerate’s shares of stock, which have a value of $289,774,000 thanks to the purchase of 498,015 additional shares during the most recent fiscal period. Steel Partners Holdings L.P.’s total holdings are valued at $289,774,000. Through the first three months of 2018, HighTower Advisors LLC increased the proportion of Steel Partners stock owned by 3.1%. There are currently 19,047 shares in the company owned by HighTower Advisors LLC. These shares have a value of $792,000. This goal was accomplished during the most recent quarter of the fiscal year by purchasing 573 additional shares of the company’s stock. During the second quarter, FORVIS Wealth Advisors LLC successfully acquired an additional ownership stake in Steel Partners worth close to 388 thousand dollars. During the first three months of the year, Advisory Services Network LLC invested approximately $287,500 to purchase an additional share of Steel Partners.
Last but not least, during the first three months of the year, BNP Paribas Arbitrage S.A. opened a new position in Steel Partners. This investment was estimated to be worth approximately 122,000 dollars. To the tune of 90.03 percent, the company’s stock is owned by institutional investors and hedge funds.

SPLP stock started trading for $42.09 per share on Friday when the market opened. The stock’s price is currently trading at $42.57, which is also its 50-day simple moving average, and its 200-day simple moving average also stands at $42.27. This results in a quick ratio of 1.04, a current ratio of 1.18, and a debt-to-equity ratio of 0.32. The quick ratio stands at 1.04, the current ratio stands at 1.18, and the debt-to-equity ratio stands at 0.32. The price-to-earnings ratio for the company is 6.56, and its beta value is 1.35. According to its market capitalization, the company is currently valued at $911.42 million. During the past year, Steel Partners experienced a price range that ranged from a one-year high of $47.62 to a one-year low of $32.01.

Steel Partners Holdings L.P. has a presence in the international markets for a wide range of goods and services, including banking and energy.