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

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

Steel Partners Trading Up 1.9 %

Shares of Steel Partners stock opened at $42.86 on Friday. The business has a fifty day simple moving average of $41.74 and a 200-day simple moving average of $39.94. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.45. The firm has a market cap of $822.27 million, a price-to-earnings ratio of 4.40 and a beta of 1.39. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.

Hedge Funds Weigh In On Steel Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPLP. HighTower Advisors LLC grew its position in 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 purchasing an additional 635 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Steel Partners by 0.3% in the 2nd 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 in the last quarter. Finally, De Lisle Partners LLP lifted its stake in 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 acquiring an additional 10,377 shares during the last quarter. 50.75% of the stock is currently owned by hedge funds and other 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.