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

StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research report report published on Tuesday. The brokerage issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Stock Down 1.0 %

Shares of Steel Partners stock opened at $41.88 on Tuesday. Steel Partners has a twelve month low of $33.12 and a twelve month high of $48.45. The stock has a market capitalization of $803.47 million, a price-to-earnings ratio of 4.31 and a beta of 1.38. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The business’s 50 day simple moving average is $40.92 and its 200-day simple moving average is $39.22.

Institutional Trading of Steel Partners

Several hedge funds have recently bought and sold shares of SPLP. De Lisle Partners LLP increased its stake in shares of Steel Partners by 83.0% in 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 period. HighTower Advisors LLC increased its position in 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 acquiring an additional 635 shares during the period. Finally, Gabelli Funds LLC raised its stake in Steel Partners by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after acquiring an additional 1,700 shares in the last quarter. 50.75% of the stock is currently owned by institutional investors.

About Steel Partners

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.