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

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

Steel Partners Stock Down 2.2 %

SPLP stock opened at $41.37 on Thursday. The business has a 50-day moving average of $41.59 and a 200-day moving average of $40.75. The stock has a market capitalization of $793.48 million, a P/E ratio of 4.24 and a beta of 1.38. Steel Partners has a fifty-two week low of $34.55 and a fifty-two week 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.

Institutional Investors Weigh In On Steel Partners

Several hedge funds have recently modified their holdings of SPLP. De Lisle Partners LLP boosted its holdings in shares of 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 in the last quarter. HighTower Advisors LLC boosted its holdings in shares of 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 in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Steel Partners by 3.5% during the 4th 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 holdings in shares of 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. Institutional investors and hedge funds 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.