StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP - Free Report) in a research note published on Friday. The firm issued a strong-buy rating on the conglomerate's stock.
Steel Partners Stock Performance
Shares of NYSE:SPLP remained flat at $42.81 during trading on Friday. 2,927 shares of the stock were exchanged, compared to its average volume of 1,813. The company has a 50 day moving average price of $41.44 and a two-hundred day moving average price of $39.66. The stock has a market cap of $821.31 million, a PE ratio of 4.39 and a beta of 1.38. Steel Partners has a 1 year low of $33.12 and a 1 year high of $48.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16.
Hedge Funds Weigh In On Steel Partners
A number of large investors have recently bought and sold shares of SPLP. HighTower Advisors LLC lifted its holdings in Steel Partners by 2.5% in the 3rd 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. Gabelli Funds LLC raised its holdings in Steel Partners by 0.3% in the 2nd 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 in the last quarter. Finally, De Lisle Partners LLP lifted its position in shares of 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 purchasing an additional 10,377 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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