Steel Partners (NYSE:SPLP) Reaches New 12-Month High – Here’s Why

Steel Partners Holdings L.P. (NYSE:SPLP) shares reached a new 52-week high on Monday . The stock traded as high as $48.00 and last traded at $48.00, with a volume of 602 shares changing hands. The stock had previously closed at $45.00.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Steel Partners in a research note on Monday. They issued a “strong-buy” rating for the company.

Steel Partners Price Performance

The stock has a market capitalization of $860.45 million, a price-to-earnings ratio of 4.62 and a beta of 1.36. The business’s fifty day moving average price is $40.66 and its 200-day moving average price is $39.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. De Lisle Partners LLP grew its holdings in shares of Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after buying an additional 10,377 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after buying an additional 635 shares during the last quarter. Finally, Gabelli Funds LLC grew its holdings in shares of Steel Partners by 0.3% during the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after buying an additional 1,700 shares during the last quarter. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.