Steel Partners (NYSE:SPLP) Stock Price Up 9.6% – Here’s What Happened

Steel Partners Holdings L.P. (NYSE:SPLP)’s share price traded up 9.6% during mid-day trading on Thursday . The stock traded as high as $40.93 and last traded at $40.55. 1,514 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 1,852 shares. The stock had previously closed at $37.00.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Steel Partners in a research note on Saturday, January 11th. They set a “strong-buy” rating on the stock.

Steel Partners Trading Down 1.1 %

The company’s 50 day simple moving average is $41.84 and its two-hundred day simple moving average is $39.99. 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 has a market cap of $776.69 million, a price-to-earnings ratio of 4.15 and a beta of 1.39.

Institutional Investors Weigh In On Steel Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC grew its stake in shares of 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 buying an additional 635 shares in the last quarter. De Lisle Partners LLP increased its stake in shares of Steel Partners by 83.0% during the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after purchasing an additional 10,377 shares during the last quarter. Finally, Gabelli Funds LLC raised its holdings in shares of Steel Partners by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after purchasing an additional 1,700 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.