StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP - Free Report) in a research report released on Monday. The brokerage issued a strong-buy rating on the conglomerate's stock.
Steel Partners Price Performance
Steel Partners stock traded down $0.15 during midday trading on Monday, reaching $44.85. The company's stock had a trading volume of 3,643 shares, compared to its average volume of 5,476. The firm has a market capitalization of $860.45 million, a PE ratio of 4.60 and a beta of 1.36. Steel Partners has a fifty-two week low of $33.12 and a fifty-two week high of $48.45. The stock's 50 day simple moving average is $40.72 and its 200 day simple moving average is $39.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of SPLP. De Lisle Partners LLP boosted its stake in Steel Partners by 83.0% in the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate's stock worth $924,000 after buying an additional 10,377 shares during the last quarter. Gabelli Funds LLC boosted its position 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 acquiring an additional 1,700 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in 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 purchasing an additional 635 shares during the period. 50.75% of the stock is owned by hedge funds and other institutional investors.
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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