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

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

Steel Partners Price Performance

Shares of SPLP opened at $41.43 on Friday. The company has a 50 day moving average price of $41.52 and a 200-day moving average price of $40.90. Steel Partners has a fifty-two week low of $34.55 and a fifty-two week high of $48.45. The stock has a market capitalization of $794.83 million, a PE ratio of 4.25 and a beta of 1.38. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.

Institutional Investors Weigh In On Steel Partners

Several hedge funds have recently modified their holdings of the business. Gamco Investors INC. ET AL lifted its position in shares of Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after purchasing an additional 3,300 shares during the period. HighTower Advisors LLC lifted its position in Steel Partners by 2.2% during the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after acquiring an additional 577 shares during the last quarter. De Lisle Partners LLP lifted 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. Finally, Teton Advisors Inc. lifted its position in Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 50.75% of the company’s stock.

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.