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

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

Steel Partners Trading Down 2.4 %

NYSE SPLP opened at $40.56 on Friday. Steel Partners has a one year low of $34.55 and a one year high of $48.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The business’s fifty day moving average is $41.39 and its 200-day moving average is $41.02. The stock has a market capitalization of $778.14 million, a price-to-earnings ratio of 4.16 and a beta of 1.37.

Hedge Funds Weigh In On Steel Partners

Several hedge funds have recently made changes to their positions in SPLP. HighTower Advisors LLC increased its stake in Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after acquiring an additional 635 shares during the last quarter. De Lisle Partners LLP grew 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 worth $924,000 after purchasing an additional 10,377 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in 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 acquiring an additional 3,300 shares in the last quarter. Finally, Teton Advisors Inc. boosted its position in Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after acquiring an additional 500 shares in the last quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

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.