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

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

Steel Partners Stock Up 1.9 %

Shares of Steel Partners stock opened at $42.86 on Friday. 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 50 day moving average price of $41.74 and a two-hundred day moving average price of $39.94. The stock has a market capitalization of $822.27 million, a P/E ratio of 4.40 and a beta of 1.39. Steel Partners has a 12-month low of $33.12 and a 12-month high of $48.45.

Institutional Trading of Steel Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPLP. HighTower Advisors LLC boosted its position in shares of Steel Partners by 2.5% in the third 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. Gabelli Funds LLC increased its holdings in shares of Steel Partners by 0.3% during the 2nd 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. Finally, De Lisle Partners LLP lifted its stake in shares of Steel Partners by 83.0% in 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. 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.