Steel Partners (NYSE:SPLP) Now Covered by StockNews.com

StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP) in a research report report published on Wednesday. The brokerage issued a strong-buy rating on the conglomerate’s stock.

Steel Partners Trading Down 4.7 %

SPLP stock opened at $40.95 on Wednesday. Steel Partners has a one year low of $33.12 and a one year high of $48.45. The stock has a market cap of $785.44 million, a price-to-earnings ratio of 4.20 and a beta of 1.38. The company has a fifty day moving average price of $41.78 and a two-hundred day moving average price of $40.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16.

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. De Lisle Partners LLP increased its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,877 shares of the conglomerate’s stock after purchasing an additional 10,377 shares during the period. De Lisle Partners LLP owned approximately 0.12% of Steel Partners worth $924,000 as of its most recent filing with the Securities and Exchange Commission. 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.