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

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

Steel Partners Price Performance

Shares of NYSE SPLP opened at $41.87 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The business has a 50-day moving average of $40.87 and a 200-day moving average of $39.18. The stock has a market capitalization of $803.28 million, a price-to-earnings ratio of 4.29 and a beta of 1.38. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.45.

Institutional Investors Weigh In On Steel Partners

A number of institutional investors and hedge funds have recently made changes to their positions in SPLP. De Lisle Partners LLP increased its holdings 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. Gabelli Funds LLC grew its position in shares of 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 acquiring an additional 1,700 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after acquiring an additional 635 shares during the period. 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.