Steel Partners (NYSE:SPLP) Coverage Initiated at StockNews.com

Posted by Teresa Graham on Dec 4th, 2024

StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP – Get Free Report) in a research note issued on Monday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Trading Down 8.3 %

Shares of NYSE SPLP opened at $41.13 on Monday. Steel Partners has a 1-year low of $33.12 and a 1-year high of $48.45. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $40.71 and a two-hundred day moving average of $39.07. The company has a market cap of $788.88 million, a PE ratio of 4.22 and a beta of 1.38.

Hedge Funds Weigh In On Steel Partners

Several hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after purchasing an additional 635 shares during the period. De Lisle Partners LLP lifted its holdings in Steel Partners by 83.0% in the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after buying an additional 10,377 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in Steel Partners by 0.3% in the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after buying an additional 1,700 shares during the period. Institutional investors own 50.75% of the company’s stock.

Steel Partners Company Profile

(Get Free Report)

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.