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

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

Steel Partners Trading Down 0.4 %

Shares of SPLP stock opened at $42.25 on Thursday. Steel Partners has a 1-year low of $33.12 and a 1-year high of $48.45. The firm’s 50-day simple moving average is $41.30 and its 200-day simple moving average is $39.51. The firm has a market cap of $810.57 million, a P/E ratio of 4.33 and a beta of 1.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16.

Institutional Investors Weigh In On Steel Partners

A number of institutional investors have recently added to or reduced their stakes in SPLP. HighTower Advisors LLC increased its position in shares of 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. De Lisle Partners LLP increased its holdings 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 purchasing an additional 10,377 shares in the last quarter. Finally, Gabelli Funds LLC increased its holdings 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 purchasing an additional 1,700 shares in the last quarter. Hedge funds and other 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.