Equities researchers at StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP - Get Free Report) in a research note issued on Wednesday. The brokerage set a "strong-buy" rating on the conglomerate's stock.
Steel Partners Price Performance
SPLP remained flat at $41.50 during midday trading on Wednesday. The company's stock had a trading volume of 880 shares, compared to its average volume of 5,249. The business has a fifty day moving average price of $41.12 and a 200 day moving average price of $39.32. Steel Partners has a 52-week low of $33.12 and a 52-week high of $48.45. The firm has a market capitalization of $796.18 million, a price-to-earnings ratio of 4.26 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.
Hedge Funds Weigh In On Steel Partners
A number of institutional investors and hedge funds have recently modified their holdings of SPLP. De Lisle Partners LLP grew its stake 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 acquiring an additional 10,377 shares during the period. HighTower Advisors LLC grew its position in 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 purchasing an additional 635 shares during the period. Finally, Gabelli Funds LLC increased its stake in Steel Partners by 0.3% during 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. 50.75% of the stock is currently owned by institutional investors.
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.
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