Steel Partners (NYSE:SPLP) Coverage Initiated by Analysts at StockNews.com

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

Steel Partners Trading Up 0.8 %

NYSE:SPLP opened at $41.43 on Friday. Steel Partners has a 52 week low of $34.55 and a 52 week high of $48.45. The firm has a 50 day moving average of $41.52 and a 200 day moving average of $40.90. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $794.83 million, a price-to-earnings ratio of 4.25 and a beta of 1.38.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Teton Advisors Inc. increased its stake in 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 purchasing an additional 500 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in 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 purchasing an additional 3,300 shares in the last quarter. HighTower Advisors LLC increased its stake in 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 purchasing an additional 577 shares in the last quarter. Finally, De Lisle Partners LLP increased its stake in 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. 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.