Steel Partners (SPLP) Cut to D+ at TheStreet

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TheStreet downgraded shares of Steel Partners (NYSE:SPLP) from a c- rating to a d+ rating in a report published on Friday morning, TheStreetRatingsTable reports.

Separately, ValuEngine downgraded shares of Steel Partners from a buy rating to a hold rating in a research report on Wednesday, January 2nd.

Shares of SPLP stock opened at $13.89 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.39 and a current ratio of 1.63. Steel Partners has a 1 year low of $12.93 and a 1 year high of $18.00.

Institutional investors and hedge funds have recently made changes to their positions in the company. Steel Partners Holdings L.P. boosted its holdings in shares of Steel Partners by 50.9% during the 4th quarter. Steel Partners Holdings L.P. now owns 1,484,203 shares of the conglomerate’s stock worth $19,888,000 after buying an additional 500,384 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Steel Partners during the 4th quarter worth about $488,000. Renaissance Technologies LLC boosted its holdings in shares of Steel Partners by 34.9% during the 3rd quarter. Renaissance Technologies LLC now owns 40,200 shares of the conglomerate’s stock worth $671,000 after buying an additional 10,400 shares during the period. Teton Advisors Inc. boosted its holdings in shares of Steel Partners by 0.9% during the 4th quarter. Teton Advisors Inc. now owns 640,000 shares of the conglomerate’s stock worth $8,576,000 after buying an additional 6,000 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in shares of Steel Partners by 0.7% during the 4th quarter. Gabelli Funds LLC now owns 291,958 shares of the conglomerate’s stock worth $3,912,000 after buying an additional 1,912 shares during the period. 30.14% of the stock is owned by institutional investors.

About Steel Partners

Steel Partners Holdings L.P., through its subsidiaries, engages in industrial products, energy, defense, supply chain management, logistics, banking, and 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; manufactures and supplies fasteners, adhesives, and fastening systems for the commercial low slope roofing industry, as well as specialty fasteners for the building products industry; and manufactures sheet and mechanically formed glass, quartz, carbon, and aramid materials for specialty applications.

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