Gabelli Funds LLC Lowers Stock Position in Steel Partners Holdings L.P. (NYSE:SPLP)

Gabelli Funds LLC trimmed its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 594,803 shares of the conglomerate’s stock after selling 2,800 shares during the period. Gabelli Funds LLC’s holdings in Steel Partners were worth $23,584,000 as of its most recent SEC filing.

Separately, Teton Advisors Inc. grew its position in Steel Partners by 4.1% in the 4th quarter. Teton Advisors Inc. now owns 10,200 shares of the conglomerate’s stock valued at $408,000 after buying an additional 400 shares during the last quarter. 50.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Steel Partners in a research report on Saturday. They issued a “strong-buy” rating on the stock.

Steel Partners Price Performance

Steel Partners stock remained flat at $37.50 during midday trading on Friday. Steel Partners Holdings L.P. has a fifty-two week low of $33.12 and a fifty-two week high of $47.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.24 and a quick ratio of 1.13. The business has a fifty day simple moving average of $37.57 and a two-hundred day simple moving average of $10,068.17. The company has a market cap of $764.63 million, a price-to-earnings ratio of 5.49 and a beta of 1.36.

Steel Partners (NYSE:SPLP) last released its earnings results on Wednesday, May 8th. The conglomerate reported $1.50 EPS for the quarter. Steel Partners had a return on equity of 16.61% and a net margin of 8.27%. The company had revenue of $476.35 million during the quarter.

Steel Partners 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.