StockNews.com began coverage on shares of Steel Partners (NYSE:SPLP – Free Report) in a research note published on Wednesday morning. The firm issued a strong-buy rating on the conglomerate’s stock.
Steel Partners Price Performance
NYSE:SPLP opened at $41.50 on Wednesday. The firm has a market capitalization of $796.18 million, a price-to-earnings ratio of 4.26 and a beta of 1.38. 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 business has a 50 day simple moving average of $41.12 and a 200-day simple moving average of $39.32. Steel Partners has a 1 year low of $33.12 and a 1 year high of $48.45.
Institutional Investors Weigh In On Steel Partners
Several institutional investors have recently made changes to their positions in SPLP. Gabelli Funds LLC increased its stake in Steel Partners by 0.3% in the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after purchasing an additional 1,700 shares during the period. HighTower Advisors LLC grew its stake in Steel Partners by 2.5% in the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after purchasing an additional 635 shares in the last quarter. Finally, De Lisle Partners LLP increased its holdings 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 period. Institutional investors 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.
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