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

StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued to investors on Saturday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

Shares of NYSE:SPLP opened at $40.53 on Friday. The stock has a market cap of $777.62 million, a PE ratio of 4.16 and a beta of 1.36. The company’s fifty day moving average is $40.44 and its 200 day moving average is $38.61. Steel Partners has a 52 week low of $33.12 and a 52 week high of $42.58. The company has a quick ratio of 1.15, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On Steel Partners

Hedge funds have recently modified their holdings of the company. Teton Advisors Inc. increased its position in shares of Steel Partners by 22.5% during the first quarter. Teton Advisors Inc. now owns 12,500 shares of the conglomerate’s stock valued at $496,000 after buying an additional 2,300 shares during the period. De Lisle Partners LLP increased its position in shares of Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after buying an additional 10,377 shares during the period. HighTower Advisors LLC increased its position in shares of Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after buying an additional 635 shares during the period. Finally, Gabelli Funds LLC increased its position in shares of Steel Partners by 0.3% during the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after buying an additional 1,700 shares during the period. Hedge funds and other institutional investors own 50.75% of the company’s stock.

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.