StockNews.com Initiates Coverage on Steel Partners (NYSE:SPLP)

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

Steel Partners Trading Up 0.1 %

NYSE:SPLP opened at $41.05 on Friday. Steel Partners has a 52 week low of $33.12 and a 52 week high of $42.58. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average price is $40.47 and its 200-day moving average price is $38.85. The stock has a market cap of $787.34 million, a price-to-earnings ratio of 4.21 and a beta of 1.36.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SPLP. HighTower Advisors LLC raised 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 period. Gabelli Funds LLC increased its holdings in Steel Partners by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after acquiring an additional 1,700 shares during the last quarter. Finally, De Lisle Partners LLP increased its holdings in Steel Partners by 83.0% in the 3rd 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. 50.75% of the stock is currently owned by institutional investors.

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.