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

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

Steel Partners Stock Down 0.0 %

Shares of NYSE:SPLP opened at $42.11 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. Steel Partners has a 1 year low of $33.12 and a 1 year high of $48.45. The stock has a market capitalization of $807.61 million, a P/E ratio of 4.32 and a beta of 1.38. The stock has a 50-day simple moving average of $41.61 and a 200-day simple moving average of $40.70.

Hedge Funds Weigh In On Steel Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Teton Advisors Inc. boosted its holdings in Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after acquiring an additional 500 shares during the period. HighTower Advisors LLC boosted its holdings in Steel Partners by 2.2% in the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock worth $1,149,000 after acquiring an additional 577 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after acquiring an additional 3,300 shares during the period. Finally, De Lisle Partners LLP boosted its holdings in Steel Partners by 83.0% in the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after acquiring 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.