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

Stock analysts at StockNews.com started coverage on shares of Steel Partners (NYSE:SPLP) in a report released on Saturday. The brokerage set a “strong-buy” rating on the conglomerate’s stock.

Steel Partners Stock Performance

Shares of Steel Partners stock opened at $42.86 on Friday. The firm has a market capitalization of $822.27 million, a P/E ratio of 4.40 and a beta of 1.39. The company’s 50 day moving average price is $41.74 and its two-hundred day moving average price is $39.90. 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 fifty-two week low of $33.12 and a fifty-two week high of $48.45.

Institutional Investors Weigh In On Steel Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. De Lisle Partners LLP boosted its holdings in shares of Steel Partners by 83.0% in the third 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 grew its holdings in shares of Steel Partners by 2.5% in the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after purchasing an additional 635 shares during the last quarter. Finally, Gabelli Funds LLC lifted 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 acquiring an additional 1,700 shares during the period. 50.75% of the stock is owned by hedge funds and other institutional investors.

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.