Equities researchers at StockNews.com started coverage on shares of Steel Partners (NYSE:SPLP – Get Rating) in a research report issued to clients and investors on Sunday. The firm set a “strong-buy” rating on the conglomerate’s stock.
Steel Partners Stock Down 0.1 %
SPLP opened at $42.44 on Friday. The business has a 50 day simple moving average of $43.42 and a 200-day simple moving average of $42.52. The stock has a market capitalization of $914.59 million, a P/E ratio of 5.31 and a beta of 1.34. Steel Partners has a 12 month low of $38.00 and a 12 month high of $47.62. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.09 and a quick ratio of 0.96.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC grew its holdings in shares of Steel Partners by 2.5% during the fourth quarter. HighTower Advisors LLC now owns 22,440 shares of the conglomerate’s stock valued at $960,000 after purchasing an additional 540 shares during the last quarter. Dorsey Wright & Associates acquired a new stake in shares of Steel Partners during the 4th quarter valued at $85,000. BNP Paribas Arbitrage SA acquired a new stake in Steel Partners during the 1st quarter valued at $122,000. Alpha Omega Wealth Management LLC raised its stake in Steel Partners by 4.1% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 76,457 shares of the conglomerate’s stock valued at $3,272,000 after purchasing an additional 3,000 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Steel Partners during the 1st quarter valued at $287,000. Institutional investors and hedge funds own 90.03% of the company’s stock.
About Steel Partners
Steel Partners Holdings LP engages in owning and operating businesses in various industries, including diversified industrial products, energy, defense, supply chain management and logistics, banking, and youth sports. It operates through the following segments: Diversified Industrial, Energy, Financial Services, and Corporate and Other.
- Get a free copy of the StockNews.com research report on Steel Partners (SPLP)
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