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

StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a research note published on Friday morning. The firm issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Stock Performance

Steel Partners stock opened at $42.81 on Friday. Steel Partners has a 1-year low of $33.12 and a 1-year high of $48.45. The firm has a market cap of $821.31 million, a P/E ratio of 4.39 and a beta of 1.38. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average of $41.49 and a 200-day moving average of $39.72.

Hedge Funds Weigh In On Steel Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. De Lisle Partners LLP boosted its stake 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 valued at $924,000 after purchasing an additional 10,377 shares in the last quarter. HighTower Advisors LLC grew its holdings 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 acquiring an additional 635 shares during the period. Finally, Gabelli Funds LLC raised its position in shares of Steel Partners by 0.3% in the 2nd 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 in the last quarter. 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.