Steel Partners (NYSE:SPLP) Earns Strong-Buy Rating from Analysts at StockNews.com

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

Steel Partners Stock Up 0.6 %

Shares of NYSE:SPLP opened at $42.81 on Friday. The firm has a fifty day moving average price of $41.44 and a two-hundred day moving average price of $39.66. The company has a market cap of $821.31 million, a price-to-earnings ratio of 4.39 and a beta of 1.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. Steel Partners has a one year low of $33.12 and a one year high of $48.45.

Institutional Trading of Steel Partners

A number of large investors have recently modified their holdings of SPLP. HighTower Advisors LLC increased 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 purchasing an additional 635 shares during the last quarter. Gabelli Funds LLC boosted its stake in 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 buying an additional 1,700 shares in the last quarter. Finally, De Lisle Partners LLP grew its position in 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 last quarter. Institutional investors own 50.75% of the company’s stock.

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.