Steel Partners (NYSE:SPLP) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Steel Partners Holdings L.P. (NYSE:SPLP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $40.85 and traded as high as $42.50. Steel Partners shares last traded at $41.29, with a volume of 507 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Steel Partners in a report on Friday. They issued a “strong-buy” rating for the company.

Steel Partners Stock Performance

The firm has a market capitalization of $792.53 million, a PE ratio of 4.24 and a beta of 1.38. The business has a 50-day simple moving average of $41.54 and a 200-day simple moving average of $40.85. 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 Trading of Steel Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teton Advisors Inc. grew its stake in shares of Steel Partners by 4.0% during 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. De Lisle Partners LLP boosted its holdings in Steel Partners by 83.0% during the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after acquiring an additional 10,377 shares during the period. HighTower Advisors LLC grew its position in Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after acquiring an additional 635 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased 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 worth $4,123,000 after purchasing an additional 3,300 shares during the period. 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.