StockNews.com Initiates Coverage on Steel Partners (NYSE:SPLP)

Equities research analysts at StockNews.com started coverage on shares of Steel Partners (NYSE:SPLP) in a research report issued on Thursday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

Shares of NYSE SPLP opened at $42.17 on Thursday. 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’s fifty day simple moving average is $41.26 and its 200 day simple moving average is $39.42. The firm has a market cap of $809.03 million, a PE ratio of 4.33 and a beta of 1.38. Steel Partners has a 12-month low of $33.12 and a 12-month high of $48.45.

Institutional Trading of Steel Partners

Several institutional investors and hedge funds have recently made changes to their positions in SPLP. De Lisle Partners LLP lifted its holdings 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. Gabelli Funds LLC increased its position in shares of Steel Partners by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after purchasing an additional 1,700 shares during the last quarter. Finally, HighTower Advisors LLC raised 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 worth $1,082,000 after purchasing an additional 635 shares during the period. Hedge funds and other institutional investors 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.