Steel Partners (NYSE:SPLP) Research Coverage Started at StockNews.com

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

Steel Partners Price Performance

Steel Partners stock opened at $40.56 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The company’s fifty day moving average price is $41.35 and its 200 day moving average price is $41.06. The stock has a market capitalization of $778.14 million, a P/E ratio of 4.16 and a beta of 1.37. Steel Partners has a 1 year low of $34.55 and a 1 year high of $48.45.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Teton Advisors Inc. increased its stake in Steel Partners by 4.0% during 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. HighTower Advisors LLC boosted its stake in shares of Steel Partners by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock worth $1,149,000 after acquiring an additional 577 shares during the last quarter. Gamco Investors INC. ET AL increased its position in shares of Steel Partners by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after purchasing an additional 3,300 shares in the last quarter. Finally, De Lisle Partners LLP increased its position in shares of 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 purchasing an additional 10,377 shares in the last quarter. 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.