Steel Partners (NYSE:SPLP) Stock Price Up 6.1% – Here’s Why

Steel Partners Holdings L.P. (NYSE:SPLP) shares rose 6.1% on Monday . The company traded as high as $32.88 and last traded at $32.88. Approximately 5,614 shares were traded during trading, an increase of 49% from the average daily volume of 3,762 shares. The stock had previously closed at $31.00.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Steel Partners in a research note on Wednesday, April 9th. They issued a “strong-buy” rating for the company.

Steel Partners Price Performance

The stock has a fifty day moving average of $40.67 and a 200 day moving average of $41.05. The stock has a market cap of $646.35 million, a price-to-earnings ratio of 3.46 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16.

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

Hedge Funds Weigh In On Steel Partners

Institutional investors have recently modified their holdings of the stock. Teton Advisors Inc. lifted its holdings 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 acquiring an additional 500 shares during the period. HighTower Advisors LLC increased its holdings in shares of Steel Partners by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after purchasing an additional 577 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake 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 valued at $4,123,000 after purchasing an additional 3,300 shares during the period. Hedge funds and other institutional investors own 50.75% of the company’s stock.

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.