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

Equities researchers at StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a note issued to investors on Thursday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

Shares of Steel Partners stock opened at $42.17 on Thursday. The stock has a market capitalization of $809.03 million, a P/E ratio of 4.33 and a beta of 1.38. Steel Partners has a 52-week low of $33.12 and a 52-week high of $48.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The stock’s 50-day simple moving average is $41.26 and its 200 day simple moving average is $39.42.

Institutional Investors Weigh In On Steel Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. De Lisle Partners LLP lifted its holdings in shares of Steel Partners by 83.0% in the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after buying an additional 10,377 shares in the last quarter. HighTower Advisors LLC increased its holdings in 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 lifted its stake in 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 purchasing 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.