Steel Partners (NYSE:SPLP) Now Covered by Analysts at StockNews.com

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

Steel Partners Trading Up 2.7 %

SPLP opened at $44.00 on Friday. Steel Partners has a 12-month low of $33.12 and a 12-month 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 stock has a market capitalization of $844.14 million, a PE ratio of 4.51 and a beta of 1.39. The firm’s fifty day moving average price is $41.85 and its 200 day moving average price is $39.99.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. De Lisle Partners LLP increased 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 during the last quarter. HighTower Advisors LLC boosted its holdings in Steel Partners by 2.5% in the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after purchasing an additional 635 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in 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 purchasing 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.