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

Equities researchers at StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a report released on Sunday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

Steel Partners stock opened at $41.67 on Friday. The company has a market cap of $799.21 million, a P/E ratio of 4.27 and a beta of 1.39. Steel Partners has a one year low of $33.12 and a one year high of $48.45. The business has a fifty day moving average of $41.96 and a two-hundred day moving average of $40.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.

Hedge Funds Weigh In On Steel Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC boosted its position 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. Gabelli Funds LLC raised its position in Steel Partners by 0.3% during 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 last quarter. Finally, De Lisle Partners LLP lifted its holdings in shares of Steel Partners by 83.0% in the third 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 in the last quarter. 50.75% of the stock is owned by institutional investors and hedge funds.

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.