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

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

Steel Partners Stock Down 2.2 %

Shares of NYSE:SPLP opened at $41.37 on Thursday. The firm has a market cap of $793.48 million, a P/E ratio of 4.24 and a beta of 1.38. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. Steel Partners has a 12-month low of $34.55 and a 12-month high of $48.45. The business has a fifty day simple moving average of $41.59 and a 200 day simple moving average of $40.75.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Teton Advisors Inc. raised its position in Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 500 shares during the last quarter. HighTower Advisors LLC raised its position in Steel Partners by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock worth $1,149,000 after purchasing an additional 577 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Steel Partners by 3.5% during 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 last quarter. Finally, De Lisle Partners LLP raised its position in Steel Partners by 83.0% during the 3rd 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. 50.75% of the stock is owned by 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.