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

StockNews.com started coverage on shares of Steel Partners (NYSE:SPLP) in a report issued on Tuesday morning. The brokerage issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Price Performance

NYSE SPLP opened at $41.88 on Tuesday. The company has a market cap of $803.47 million, a P/E ratio of 4.31 and a beta of 1.38. Steel Partners has a 1 year low of $33.12 and a 1 year high of $48.45. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $40.92 and a 200 day simple moving average of $39.22.

Institutional Trading of Steel Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gabelli Funds LLC lifted its holdings 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 worth $22,207,000 after buying an additional 1,700 shares during the last quarter. De Lisle Partners LLP increased its position in 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 acquiring an additional 10,377 shares during the period. Finally, HighTower Advisors LLC raised its stake in Steel Partners by 2.5% during the 3rd 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 during the last quarter. 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.