Steel Partners (NYSE:SPLP) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Steel Partners (NYSE:SPLP) in a report issued on Sunday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Price Performance

SPLP stock opened at $41.05 on Friday. Steel Partners has a 52-week low of $33.12 and a 52-week 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 1.16. The stock has a market capitalization of $787.34 million, a price-to-earnings ratio of 4.21 and a beta of 1.36. The company has a 50-day moving average of $40.48 and a two-hundred day moving average of $38.87.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SPLP. De Lisle Partners LLP boosted its holdings in Steel Partners by 83.0% in 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 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 during the last quarter. Finally, Gabelli Funds LLC lifted its stake in shares of Steel Partners by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after purchasing an additional 1,700 shares during the period. 50.75% of the stock is owned by institutional investors.

Steel Partners Company Profile

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.