Steel Partners (NYSE:SPLP) Coverage Initiated by Analysts at StockNews.com

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

Steel Partners Price Performance

Shares of NYSE SPLP opened at $40.53 on Friday. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $42.58. The stock has a market cap of $777.62 million, a price-to-earnings ratio of 4.16 and a beta of 1.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.15 and a current ratio of 1.27. The firm’s 50-day simple moving average is $40.44 and its 200 day simple moving average is $38.61.

Institutional Investors Weigh In On Steel Partners

Large investors have recently modified their holdings of the stock. Gabelli Funds LLC boosted its holdings in Steel Partners by 0.3% in 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 period. HighTower Advisors LLC boosted its holdings in Steel Partners by 2.5% in 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 boosted its holdings in Steel Partners by 83.0% in 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 period. Finally, Teton Advisors Inc. boosted its holdings in Steel Partners by 22.5% in the 1st quarter. Teton Advisors Inc. now owns 12,500 shares of the conglomerate’s stock valued at $496,000 after purchasing an additional 2,300 shares during the period. Hedge funds and other 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.