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

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

Steel Partners Price Performance

NYSE:SPLP opened at $40.53 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.15 and a current ratio of 1.27. The firm has a market cap of $777.37 million, a price-to-earnings ratio of 4.16 and a beta of 1.36. Steel Partners has a 52 week low of $33.12 and a 52 week high of $42.58. The firm’s 50-day simple moving average is $40.46 and its 200 day simple moving average is $38.69.

Hedge Funds Weigh In On Steel Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teton Advisors Inc. grew its holdings 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 worth $496,000 after purchasing an additional 2,300 shares in the last quarter. De Lisle Partners LLP lifted its position in Steel Partners by 83.0% during 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 period. HighTower Advisors LLC grew its stake in Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after buying an additional 635 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in Steel Partners by 0.3% during 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. 50.75% of the stock is owned by institutional investors and hedge funds.

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.