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

StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research note issued to investors on Thursday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Trading Down 0.0 %

NYSE SPLP opened at $42.11 on Thursday. Steel Partners has a 12 month low of $33.12 and a 12 month high of $48.45. The company has a 50-day moving average of $41.61 and a 200-day moving average of $40.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The company has a market cap of $807.61 million, a P/E ratio of 4.32 and a beta of 1.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Teton Advisors Inc. increased its stake in shares of Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after acquiring an additional 500 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Steel Partners by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after acquiring an additional 577 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after acquiring an additional 3,300 shares during the last quarter. Finally, De Lisle Partners LLP grew its holdings 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 worth $924,000 after purchasing an additional 10,377 shares during the period. 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.