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

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

Steel Partners Trading Down 0.3 %

SPLP opened at $44.85 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.45. The company’s 50 day moving average price is $40.72 and its two-hundred day moving average price is $39.06. The firm has a market capitalization of $860.45 million, a price-to-earnings ratio of 4.60 and a beta of 1.36.

Institutional Trading of Steel Partners

Several hedge funds have recently bought and sold shares of SPLP. Gabelli Funds LLC increased its holdings in Steel Partners by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after purchasing an additional 1,700 shares in the last quarter. De Lisle Partners LLP raised its position 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 buying an additional 10,377 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in Steel Partners by 2.5% during 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 in the last quarter. Institutional investors and hedge funds 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.