StockNews.com Initiates Coverage on Steel Partners (NYSE:SPLP)

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

Steel Partners Stock Down 2.2 %

SPLP stock opened at $41.37 on Thursday. The firm has a fifty day moving average price of $41.59 and a two-hundred day moving average price of $40.71. 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 1-year low of $34.55 and a 1-year high of $48.45. The firm has a market cap of $793.68 million, a price-to-earnings ratio of 4.24 and a beta of 1.38.

Hedge Funds Weigh In On Steel Partners

A number of large investors have recently bought and sold shares of the business. Teton Advisors Inc. grew its holdings in shares of Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after purchasing an additional 500 shares during the last quarter. Gamco Investors INC. ET AL grew 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 worth $4,123,000 after buying an additional 3,300 shares during the last quarter. HighTower Advisors LLC grew 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 worth $1,149,000 after buying an additional 577 shares during the last quarter. Finally, De Lisle Partners LLP increased its position in 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 during the period. 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.