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

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

Steel Partners Price Performance

Shares of NYSE:SPLP opened at $40.56 on Friday. The business has a 50 day moving average price of $41.39 and a 200 day moving average price of $41.03. Steel Partners has a twelve month low of $34.55 and a twelve month high of $48.45. The company has a market cap of $778.14 million, a price-to-earnings ratio of 4.16 and a beta of 1.37. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.

Institutional Trading of Steel Partners

A number of hedge funds have recently modified their holdings of SPLP. De Lisle Partners LLP lifted its position in shares of Steel Partners by 83.0% in the 3rd 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. Gamco Investors INC. ET AL raised its holdings in shares of Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after buying an additional 3,300 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after buying an additional 635 shares in the last quarter. Finally, Teton Advisors Inc. raised its holdings in shares of Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after buying an additional 500 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.