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

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

Steel Partners Stock Up 1.1 %

SPLP opened at $41.50 on Friday. The company has a fifty day moving average price of $40.47 and a 200-day moving average price of $38.90. The firm has a market capitalization of $795.97 million, a P/E ratio of 4.26 and a beta of 1.36. 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 one year low of $33.12 and a one year high of $42.58.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPLP. De Lisle Partners LLP grew 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 acquiring an additional 10,377 shares in the last quarter. Gabelli Funds LLC grew its position in Steel Partners by 0.3% in the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after acquiring an additional 1,700 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Steel Partners by 2.5% in the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after acquiring an additional 635 shares in the last quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

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.