Steel Partners (NYSE:SPLP) Trading 7% Higher – Should You Buy?

Steel Partners Holdings L.P. (NYSE:SPLP)’s share price traded up 7% during mid-day trading on Tuesday . The company traded as high as $41.76 and last traded at $42.48. 1,437 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 4,556 shares. The stock had previously closed at $39.70.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Steel Partners in a research note on Sunday. They set a “strong-buy” rating on the stock.

Steel Partners Stock Performance

The stock has a market capitalization of $790.45 million, a PE ratio of 4.25 and a beta of 1.37. The firm’s fifty day moving average is $41.10 and its 200-day moving average is $41.12. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

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

Hedge Funds Weigh In On Steel Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPLP. De Lisle Partners LLP lifted its stake in Steel Partners by 83.0% in 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. Gamco Investors INC. ET AL lifted its stake in Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after buying an additional 3,300 shares during the last quarter. HighTower Advisors LLC lifted its stake in Steel Partners by 2.5% in 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, Teton Advisors Inc. lifted its stake in Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after buying an additional 500 shares during the last quarter. 50.75% of the stock is owned by institutional investors and hedge funds.

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.