Steel Partners (NYSE:SPLP) Earns Strong-Buy Rating from Analysts at StockNews.com

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

Steel Partners Price Performance

Steel Partners stock opened at $40.83 on Wednesday. Steel Partners has a 52-week low of $33.12 and a 52-week high of $48.45. The firm has a market capitalization of $783.04 million, a price-to-earnings ratio of 4.19 and a beta of 1.38. The company has a fifty day simple moving average of $41.72 and a 200-day simple moving average of $40.56. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.

Institutional Investors Weigh In On Steel Partners

Large investors have recently modified their holdings of the business. Teton Advisors Inc. grew its holdings in shares of Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after purchasing an additional 500 shares during the period. Gamco Investors INC. ET AL grew its holdings in shares of Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after purchasing an additional 3,300 shares during the period. HighTower Advisors LLC grew its holdings in shares of Steel Partners by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after purchasing an additional 577 shares during the period. Finally, De Lisle Partners LLP grew its holdings 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. Hedge funds and other institutional investors own 50.75% of the company’s stock.

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.