Steel Partners (NYSE:SPLP) Earns Strong-Buy Rating from Analysts at StockNews.com

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

Steel Partners Stock Performance

NYSE SPLP opened at $40.54 on Friday. The company has a market cap of $777.56 million, a P/E ratio of 4.16 and a beta of 1.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.15 and a current ratio of 1.27. The business’s 50 day moving average price is $40.47 and its 200-day moving average price is $38.73. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $42.58.

Hedge Funds Weigh In On Steel Partners

Large investors have recently modified their holdings of the stock. HighTower Advisors LLC grew its position 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 last quarter. Gabelli Funds LLC grew its position in Steel Partners by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after acquiring an additional 1,700 shares during the last quarter. Teton Advisors Inc. grew its position in Steel Partners by 22.5% in the 1st quarter. Teton Advisors Inc. now owns 12,500 shares of the conglomerate’s stock valued at $496,000 after acquiring an additional 2,300 shares during the last quarter. Finally, De Lisle Partners LLP grew 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 acquiring an additional 10,377 shares during 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.