StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP - Free Report) in a report issued on Sunday. The brokerage issued a strong-buy rating on the conglomerate's stock.
Steel Partners Stock Up 1.9 %
Shares of SPLP stock traded up $0.78 on Friday, hitting $41.67. The stock had a trading volume of 237 shares, compared to its average volume of 1,852. Steel Partners has a 52-week low of $33.12 and a 52-week high of $48.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The firm has a market capitalization of $799.21 million, a price-to-earnings ratio of 4.27 and a beta of 1.39. The stock's 50 day moving average is $41.96 and its 200-day moving average is $40.05.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. De Lisle Partners LLP lifted its holdings in Steel Partners by 83.0% during 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. HighTower Advisors LLC raised its position in shares of Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate's stock valued at $1,082,000 after acquiring an additional 635 shares in the last quarter. Finally, Gabelli Funds LLC lifted its stake in Steel Partners by 0.3% during 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.
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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