Gabelli Funds LLC Reduces Stock Position in Steel Partners Holdings L.P. (NYSE:SPLP)

Gabelli Funds LLC reduced its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 594,803 shares of the conglomerate’s stock after selling 2,800 shares during the period. Gabelli Funds LLC owned approximately 2.92% of Steel Partners worth $23,584,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Teton Advisors Inc. lifted its holdings in shares of Steel Partners by 4.1% in the 4th quarter. Teton Advisors Inc. now owns 10,200 shares of the conglomerate’s stock worth $408,000 after acquiring an additional 400 shares during the last quarter. 50.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Steel Partners in a report on Saturday. They issued a “strong-buy” rating for the company.

Steel Partners Stock Performance

Shares of Steel Partners stock remained flat at $37.50 during trading on Friday. Steel Partners Holdings L.P. has a 52-week low of $33.12 and a 52-week high of $47.96. The stock’s 50-day moving average is $37.57 and its 200-day moving average is $10,068.17. The stock has a market cap of $764.63 million, a price-to-earnings ratio of 5.49 and a beta of 1.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.24 and a quick ratio of 1.13.

Steel Partners (NYSE:SPLP) last announced its quarterly earnings data on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share for the quarter. Steel Partners had a net margin of 8.27% and a return on equity of 16.61%. The company had revenue of $476.35 million during the quarter.

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.