Steel Partners (NYSE:SPLP) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued to investors on Saturday. The firm issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Stock Performance

Shares of SPLP stock opened at $40.53 on Friday. The business has a 50-day moving average price of $40.49 and a two-hundred day moving average price of $38.76. Steel Partners has a 12-month low of $33.12 and a 12-month high of $42.58. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The firm has a market cap of $777.57 million, a P/E ratio of 4.16 and a beta of 1.36.

Hedge Funds Weigh In On Steel Partners

Several institutional investors and hedge funds have recently made changes to their positions in the business. De Lisle Partners LLP increased its stake in Steel Partners by 83.0% in the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after purchasing an additional 10,377 shares during the period. Teton Advisors Inc. grew its holdings in shares of Steel Partners by 22.5% in the first quarter. Teton Advisors Inc. now owns 12,500 shares of the conglomerate’s stock worth $496,000 after purchasing an additional 2,300 shares during the last quarter. Gabelli Funds LLC increased its stake in shares of Steel Partners by 0.3% in the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after buying an additional 1,700 shares during the period. Finally, HighTower Advisors LLC raised its holdings in Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after buying an additional 635 shares during the last quarter. Institutional investors own 50.75% of the company’s stock.

Steel Partners Company Profile

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.