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

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

Steel Partners Stock Performance

NYSE SPLP opened at $41.50 on Wednesday. The firm has a market cap of $796.18 million, a PE ratio of 4.26 and a beta of 1.38. Steel Partners has a 52 week low of $33.12 and a 52 week high of $48.45. 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 company has a 50 day moving average price of $41.12 and a 200 day moving average price of $39.32.

Institutional Investors Weigh In On Steel Partners

Institutional investors and hedge funds have recently modified their holdings of the company. De Lisle Partners LLP lifted 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 valued at $924,000 after purchasing an additional 10,377 shares during the period. 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 buying an additional 635 shares during the period. Finally, Gabelli Funds LLC raised its position in shares of Steel Partners by 0.3% in the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after acquiring an additional 1,700 shares during the period. Institutional investors and hedge funds 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.