StockNews.com Upgrades Steel Partners (NYSE:SPLP) to "Strong-Buy" - MarketBeat

2022-12-07 14:50:18 By : Mr. David Chen

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Steel Partners (NYSE:SPLP - Get Rating) was upgraded by stock analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a report issued on Thursday.Steel Partners Stock Down 1.4 %

Shares of Steel Partners stock opened at $43.00 on Thursday. The company has a 50-day simple moving average of $41.75 and a two-hundred day simple moving average of $42.36. Steel Partners has a 52-week low of $32.01 and a 52-week high of $47.62. The stock has a market capitalization of $931.12 million, a PE ratio of 6.70 and a beta of 1.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.04 and a current ratio of 1.18. Insider Buying and Selling at Steel Partners

In related news, President Jack L. Howard sold 12,000 shares of the company's stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $23.24, for a total value of $278,880.00. Following the completion of the sale, the president now directly owns 229,375 shares of the company's stock, valued at $5,330,675. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 70.20% of the company's stock. Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steel Partners Holdings L.P. lifted its stake in Steel Partners by 4.4% during the first quarter. Steel Partners Holdings L.P. now owns 6,405,468 shares of the conglomerate's stock worth $266,211,000 after purchasing an additional 268,623 shares during the last quarter. HighTower Advisors LLC grew its holdings in Steel Partners by 3.1% in the first quarter. HighTower Advisors LLC now owns 19,047 shares of the conglomerate's stock valued at $792,000 after purchasing an additional 573 shares during the last quarter. HM Payson & Co. purchased a new stake in shares of Steel Partners in the first quarter valued at $153,000. BNP Paribas Arbitrage SA purchased a new stake in shares of Steel Partners in the first quarter valued at $122,000. Finally, Advisory Services Network LLC purchased a new position in Steel Partners during the first quarter worth about $287,000. Hedge funds and other institutional investors own 88.82% of the company's stock. Steel Partners Company Profile (Get Rating)

Steel Partners Holdings L.P., through its subsidiaries, engages in industrial products, energy, defense, supply chain management, logistics, banking, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, and Financial Services 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.Further ReadingGet a free copy of the StockNews.com research report on Steel Partners (SPLP)Will Easing Of Covid Rules Slash Risk For Chinese EV Maker NIO?Santa Claus Rally? Here’s What Needs to HappenCosmos Holdings May be a Long-Term Buy with Short-Term RiskDark Clouds Are Gathering For Cloud Stocks Hormel: Is This The Time To Buy?

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