Steel Partners (NYSE:SPLP) Research Coverage Started at StockNews.com

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

Steel Partners Price Performance

Steel Partners stock opened at $41.50 on Friday. Steel Partners has a 52 week low of $33.12 and a 52 week high of $42.58. The company’s 50 day moving average price is $40.47 and its two-hundred day moving average price is $38.90. 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 stock has a market cap of $795.97 million, a P/E ratio of 4.26 and a beta of 1.36.

Institutional Investors Weigh In On Steel Partners

Hedge funds have recently modified their holdings of the stock. De Lisle Partners LLP raised its holdings in Steel Partners by 83.0% during 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 during the period. HighTower Advisors LLC raised its holdings in Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after acquiring an additional 635 shares during the period. Finally, Gabelli Funds LLC raised its holdings in Steel Partners by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after acquiring an additional 1,700 shares during the period. Institutional investors own 50.75% of the company’s stock.

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.