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

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

Steel Partners Stock Performance

Shares of NYSE SPLP opened at $40.53 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $40.46 and its 200-day moving average price is $38.67. Steel Partners has a 52-week low of $33.12 and a 52-week high of $42.58. The company has a market cap of $777.42 million, a PE ratio of 4.16 and a beta of 1.36.

Institutional Investors Weigh In On Steel Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC grew its holdings 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. HighTower Advisors LLC grew its stake in shares of 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 period. De Lisle Partners LLP increased its position in shares of Steel Partners by 83.0% during the 3rd 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 last quarter. Finally, Teton Advisors Inc. lifted its stake in shares of Steel Partners by 22.5% in the 1st quarter. Teton Advisors Inc. now owns 12,500 shares of the conglomerate’s stock worth $496,000 after purchasing an additional 2,300 shares during the period. 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.