StockNews.com Begins Coverage on Steel Partners (NYSE:SPLP)

Stock analysts at StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research report issued on Friday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

Shares of Steel Partners stock opened at $42.81 on Friday. Steel Partners has a 1-year low of $33.12 and a 1-year high of $48.45. The company has a market capitalization of $821.31 million, a PE ratio of 4.39 and a beta of 1.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The business has a 50-day moving average of $41.49 and a 200-day moving average of $39.70.

Hedge Funds Weigh In On Steel Partners

Institutional investors have recently made changes to their positions in the business. Gabelli Funds LLC grew its position in shares of Steel Partners by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after acquiring an additional 1,700 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Steel Partners by 2.5% in the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after purchasing an additional 635 shares during the period. Finally, De Lisle Partners LLP increased its stake in Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after purchasing an additional 10,377 shares during the last quarter. 50.75% of the stock is owned by institutional investors and hedge funds.

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.