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

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

Steel Partners Stock Performance

SPLP opened at $41.29 on Thursday. The business’s 50-day simple moving average is $41.60 and its 200 day simple moving average is $40.71. 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 firm has a market capitalization of $791.85 million, a PE ratio of 4.23 and a beta of 1.38.

Institutional Trading of Steel Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teton Advisors Inc. increased its stake in shares of Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 500 shares during the last quarter. De Lisle Partners LLP increased its position in Steel Partners by 83.0% during 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 last quarter. HighTower Advisors LLC raised its stake in Steel Partners by 2.5% in the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after buying an additional 635 shares during the period. Finally, Gamco Investors INC. ET AL lifted its position in shares of Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after buying an additional 3,300 shares during the last quarter. 50.75% of the stock is owned by 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.