Investment analysts at StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP – Get Rating) in a report issued 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 $42.44 on Friday. The company has a 50 day moving average of $43.42 and a 200-day moving average of $42.52. The company has a market cap of $914.59 million, a PE ratio of 5.31 and a beta of 1.34. Steel Partners has a 1-year low of $38.00 and a 1-year high of $47.62. The company has a current ratio of 1.09, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28.
Hedge Funds Weigh In On Steel Partners
A number of institutional investors have recently added to or reduced their stakes in SPLP. Steel Partners Holdings L.P. increased its position in Steel Partners by 7.8% during the 2nd quarter. Steel Partners Holdings L.P. now owns 6,903,483 shares of the conglomerate’s stock worth $289,774,000 after purchasing an additional 498,015 shares in the last quarter. Moors & Cabot Inc. acquired a new position in Steel Partners during the 4th quarter worth approximately $420,000. Advisory Services Network LLC acquired a new position in Steel Partners in the 1st quarter valued at approximately $287,000. Alpha Omega Wealth Management LLC increased its position in Steel Partners by 4.1% in the 4th quarter. Alpha Omega Wealth Management LLC now owns 76,457 shares of the conglomerate’s stock valued at $3,272,000 after acquiring an additional 3,000 shares during the period. Finally, BNP Paribas Arbitrage SA acquired a new position in Steel Partners in the 1st quarter valued at approximately $122,000. 90.03% of the stock is currently owned by institutional investors and hedge funds.
About Steel Partners
Steel Partners Holdings LP engages in owning and operating businesses in various industries, including diversified industrial products, energy, defense, supply chain management and logistics, banking, and youth sports. It operates through the following segments: Diversified Industrial, Energy, Financial Services, and Corporate and Other.
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