Steel Partners (NYSE:SPLP) Trading 3.4% Higher – Here’s What Happened

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price rose 3.4% on Monday . The stock traded as high as $38.21 and last traded at $41.37. Approximately 760 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 2,918 shares. The stock had previously closed at $40.00.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Steel Partners in a report on Tuesday, April 1st. They issued a “strong-buy” rating for the company.

Steel Partners Stock Down 2.7 %

The company’s fifty day simple moving average is $41.16 and its 200 day simple moving average is $41.23. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $742.11 million, a PE ratio of 3.99 and a beta of 1.01.

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share for the quarter. The company had revenue of $497.92 million for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Trading of Steel Partners

A number of hedge funds and other institutional investors have recently modified their holdings of SPLP. HighTower Advisors LLC boosted its stake in Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after acquiring an additional 635 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Teton Advisors Inc. boosted its position in shares of Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 500 shares in the last quarter. 50.75% of the stock is owned by hedge funds and other institutional investors.

Steel Partners Company Profile

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.