Steel Partners (NYSE:SPLP) Coverage Initiated at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Steel Partners (NYSE:SPLP) in a research report issued on Monday. The firm set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

Shares of SPLP opened at $45.00 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The firm’s 50 day moving average is $40.66 and its 200-day moving average is $39.02. Steel Partners has a 12-month low of $33.12 and a 12-month high of $45.00. The stock has a market capitalization of $863.33 million, a P/E ratio of 4.62 and a beta of 1.36.

Hedge Funds Weigh In On Steel Partners

Hedge funds have recently modified their holdings of the stock. 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 valued at $22,207,000 after buying an additional 1,700 shares in the last quarter. De Lisle Partners LLP raised its holdings 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 valued at $924,000 after acquiring an additional 10,377 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of Steel Partners by 2.5% in 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. 50.75% of the stock is currently owned by institutional investors and hedge funds.

About Steel Partners

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.