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

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

Steel Partners Price Performance

SPLP opened at $42.25 on Thursday. 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’s 50 day simple moving average is $41.30 and its 200 day simple moving average is $39.50. The firm has a market cap of $810.57 million, a price-to-earnings ratio of 4.33 and a beta of 1.38. Steel Partners has a 1 year low of $33.12 and a 1 year high of $48.45.

Institutional Investors Weigh In On Steel Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gabelli Funds LLC raised its position in Steel Partners by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after purchasing an additional 1,700 shares during the last quarter. HighTower Advisors LLC increased its stake 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, De Lisle Partners LLP raised 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 valued at $924,000 after acquiring an additional 10,377 shares in the last quarter. 50.75% of the stock is currently owned by institutional investors.

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.