StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP - Free Report) in a report issued on Wednesday. The firm issued a strong-buy rating on the conglomerate's stock.
Steel Partners Stock Performance
Shares of NYSE:SPLP traded down $0.82 during trading on Wednesday, reaching $41.18. 1,074 shares of the stock were exchanged, compared to its average volume of 1,666. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The firm has a market cap of $789.83 million, a PE ratio of 4.22 and a beta of 1.38. The stock has a 50-day moving average price of $41.64 and a 200-day moving average price of $40.58. Steel Partners has a 12 month low of $33.12 and a 12 month high of $48.45.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of SPLP. Teton Advisors Inc. boosted its stake in Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock worth $553,000 after acquiring an additional 500 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Steel Partners by 2.2% in the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock valued at $1,149,000 after buying an additional 577 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock worth $4,123,000 after acquiring an additional 3,300 shares in the last quarter. Finally, De Lisle Partners LLP raised its position in shares of 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 purchasing an additional 10,377 shares during the period. 50.75% of the stock is owned by institutional investors and hedge funds.
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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