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

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

Steel Partners Price Performance

Steel Partners stock opened at $41.67 on Friday. The company has a market capitalization of $799.21 million, a price-to-earnings ratio of 4.27 and a beta of 1.39. The stock’s 50 day moving average is $41.96 and its 200-day moving average is $40.07. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. Steel Partners has a 12 month low of $33.12 and a 12 month high of $48.45.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPLP. De Lisle Partners LLP increased its holdings 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 worth $924,000 after buying an additional 10,377 shares in the last quarter. HighTower Advisors LLC grew its position in Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after acquiring an additional 635 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in Steel Partners by 0.3% in 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 in the last quarter. 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.