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

Equities researchers at StockNews.com started coverage on shares of Steel Partners (NYSE:SPLP) in a report issued on Wednesday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Down 0.8 %

NYSE SPLP opened at $41.50 on Wednesday. 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 company has a fifty day moving average of $41.09 and a two-hundred day moving average of $39.30. The firm has a market capitalization of $796.18 million, a price-to-earnings ratio of 4.26 and a beta of 1.38. Steel Partners has a 52 week low of $33.12 and a 52 week high of $48.45.

Institutional Trading of Steel Partners

A number of large investors have recently made changes to their positions in the stock. Gabelli Funds LLC raised its holdings in shares of 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 acquiring an additional 1,700 shares in the last quarter. De Lisle Partners LLP raised its holdings in shares of 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 acquiring an additional 10,377 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings 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 valued at $1,082,000 after acquiring an additional 635 shares in the last quarter. 50.75% of the stock is owned by hedge funds and other institutional investors.

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.