StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP - Free Report) in a research note released on Saturday morning. The brokerage issued a strong-buy rating on the conglomerate's stock.
Steel Partners Price Performance
Steel Partners stock opened at $40.53 on Friday. The company has a market capitalization of $777.62 million, a PE ratio of 4.16 and a beta of 1.36. Steel Partners has a one year low of $33.12 and a one year high of $42.58. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.15. The business has a 50 day simple moving average of $40.44 and a 200 day simple moving average of $38.61.
Institutional Investors Weigh In On Steel Partners
A number of hedge funds and other institutional investors have recently made changes to their positions in SPLP. Teton Advisors Inc. boosted its holdings in Steel Partners by 22.5% in the first quarter. Teton Advisors Inc. now owns 12,500 shares of the conglomerate's stock worth $496,000 after acquiring an additional 2,300 shares in the last quarter. De Lisle Partners LLP grew its position in Steel Partners by 83.0% in the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate's stock worth $924,000 after acquiring an additional 10,377 shares in the last quarter. HighTower Advisors LLC increased 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 worth $1,082,000 after buying an additional 635 shares during the period. Finally, Gabelli Funds LLC grew its stake 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 worth $22,207,000 after purchasing an additional 1,700 shares during the last quarter. 50.75% of the stock is currently 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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