StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP – Free Report) in a report issued on Friday. The firm issued a strong-buy rating on the conglomerate’s stock.
Steel Partners Price Performance
SPLP stock opened at $42.81 on Friday. Steel Partners has a twelve month low of $33.12 and a twelve month high of $48.45. The firm has a market capitalization of $821.31 million, a PE ratio of 4.39 and a beta of 1.38. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The stock has a 50-day simple moving average of $41.49 and a two-hundred day simple moving average of $39.72.
Institutional Investors Weigh In On Steel Partners
Institutional investors and hedge funds have recently made changes to their positions in the business. De Lisle Partners LLP raised its position in shares of Steel Partners by 83.0% during the 3rd 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 in the last quarter. HighTower Advisors LLC lifted its stake in Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after purchasing an additional 635 shares during the last quarter. Finally, Gabelli Funds LLC grew its position in Steel Partners by 0.3% during the 2nd 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 during 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.
See Also
- Five stocks we like better than Steel Partners
- The Significance of Brokerage Rankings in Stock Selection
- Cold Front, Hot Stocks: Diesel Prices Propel Energy Leaders
- What Are Dividend Challengers?
- Sustainable and Successful: 3 Climate ETFs Beating the Market
- What Does Downgrade Mean in Investing?
- Quantum Opportunity: Skywater Technology’s Long-Term Potential
Receive News & Ratings for Steel Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Partners and related companies with MarketBeat.com's FREE daily email newsletter.
