Steel Partners (NYSE:SPLP) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a note issued to investors on Sunday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

Shares of Steel Partners stock opened at $41.67 on Friday. The stock has a market cap of $799.21 million, a price-to-earnings ratio of 4.27 and a beta of 1.39. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. Steel Partners has a twelve month low of $33.12 and a twelve month high of $48.45. The company’s fifty day moving average is $41.96 and its 200 day moving average is $40.07.

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. De Lisle Partners LLP increased its position in Steel Partners by 83.0% during the 3rd 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 period. HighTower Advisors LLC boosted its stake in shares of Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after purchasing an additional 635 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in shares of Steel Partners by 0.3% during 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. 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.