Steel Partners (NYSE:SPLP) Stock Price Up 3.4% – Here’s What Happened

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

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Steel Partners in a report on Wednesday. They issued a “strong-buy” rating for the company.

Steel Partners Stock Up 5.0 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The stock’s fifty day simple moving average is $41.05 and its two-hundred day simple moving average is $41.18. The company has a market capitalization of $768.34 million, a price-to-earnings ratio of 4.11 and a beta of 1.01.

Steel Partners (NYSE:SPLP) last announced its earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) 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

Institutional investors have recently added to or reduced their stakes in the business. Teton Advisors Inc. increased its position in 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 buying an additional 500 shares during the period. Gamco Investors INC. ET AL increased its stake in Steel Partners by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after acquiring an additional 3,300 shares during the period. Finally, HighTower Advisors LLC raised its holdings in Steel Partners by 2.2% in the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after acquiring an additional 577 shares in 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.