StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP - Free Report) in a report issued on Saturday morning. The firm issued a strong-buy rating on the conglomerate's stock.
Steel Partners Trading Up 1.9 %
Shares of SPLP traded up $0.78 during trading hours on Friday, hitting $42.86. 2,651 shares of the stock were exchanged, compared to its average volume of 1,775. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.45. The business has a 50-day moving average of $41.74 and a 200-day moving average of $39.92. The firm has a market capitalization of $822.27 million, a P/E ratio of 4.40 and a beta of 1.39. 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 Trading of Steel Partners
Several hedge funds have recently modified their holdings of the stock. Gabelli Funds LLC increased its stake in 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 purchasing an additional 1,700 shares in the last quarter. HighTower Advisors LLC increased 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 buying an additional 635 shares in the last quarter. Finally, De Lisle Partners LLP increased its position 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 buying an additional 10,377 shares in the last quarter. Institutional investors own 50.75% of the company's stock.
About Steel Partners
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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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