Steel Partners (NYSE:SPLP) Research Coverage Started at StockNews.com

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

Steel Partners Stock Performance

SPLP opened at $41.18 on Wednesday. Steel Partners has a 12-month low of $33.12 and a 12-month high of $48.45. 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 market capitalization of $789.83 million, a PE ratio of 4.22 and a beta of 1.38. The firm has a 50 day moving average of $41.68 and a two-hundred day moving average of $40.56.

Hedge Funds Weigh In On Steel Partners

Institutional investors have recently made changes to their positions in the company. Teton Advisors Inc. grew its stake in Steel Partners by 4.0% in 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 period. De Lisle Partners LLP grew its stake in Steel Partners by 83.0% in the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after acquiring an additional 10,377 shares during the period. HighTower Advisors LLC grew its stake in Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after acquiring an additional 635 shares during the period. Finally, Gamco Investors INC. ET AL grew its stake in Steel Partners by 3.5% in 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 period. 50.75% of the stock is owned by hedge funds and other institutional investors.

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.