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

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

Steel Partners Trading Down 2.4 %

SPLP opened at $40.56 on Friday. The firm has a market capitalization of $778.14 million, a price-to-earnings ratio of 4.16 and a beta of 1.37. The company’s 50 day simple moving average is $41.35 and its two-hundred day simple moving average is $41.06. Steel Partners has a 1-year low of $34.55 and a 1-year high of $48.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16.

Hedge Funds Weigh In On Steel Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Teton Advisors Inc. increased its stake in shares of Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after acquiring an additional 500 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Steel Partners by 2.2% during the 4th 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. Gamco Investors INC. ET AL grew its holdings in shares of Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after purchasing an additional 3,300 shares during the period. Finally, De Lisle Partners LLP increased 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 worth $924,000 after purchasing an additional 10,377 shares during the last quarter. Institutional investors and hedge funds 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.