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

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

Steel Partners Trading Up 6.0 %

SPLP opened at $43.99 on Friday. 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 company’s 50 day simple moving average is $40.52 and its two-hundred day simple moving average is $38.93. The firm has a market capitalization of $843.73 million, a price-to-earnings ratio of 4.51 and a beta of 1.36. Steel Partners has a 1-year low of $33.12 and a 1-year high of $43.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Gabelli Funds LLC increased its holdings in shares of Steel Partners by 0.3% during the 2nd 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 during the last quarter. De Lisle Partners LLP grew its position in 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 acquiring an additional 10,377 shares during the period. Finally, HighTower Advisors LLC increased its stake in Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after acquiring an additional 635 shares during the last quarter. Institutional investors and hedge funds 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.