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

StockNews.com started coverage on shares of Steel Partners (NYSE:SPLP) in a research note released on Saturday. The brokerage issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Stock Performance

SPLP stock opened at $40.53 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The firm has a market cap of $777.57 million, a PE ratio of 4.16 and a beta of 1.36. The business has a 50 day moving average of $40.49 and a 200-day moving average of $38.76. Steel Partners has a 12-month low of $33.12 and a 12-month high of $42.58.

Hedge Funds Weigh In On Steel Partners

Large investors have recently made changes to their positions in the stock. Gabelli Funds LLC raised its position in shares of Steel Partners by 0.3% in the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after buying an additional 1,700 shares in the last quarter. 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 raised its holdings in shares of Steel Partners by 83.0% in the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after acquiring an additional 10,377 shares in the last quarter. Finally, Teton Advisors Inc. boosted its position in shares of Steel Partners by 22.5% during the 1st quarter. Teton Advisors Inc. now owns 12,500 shares of the conglomerate’s stock valued at $496,000 after acquiring an additional 2,300 shares during the last quarter. 50.75% of the stock is 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.