Steel Partners Holdings L.P. (NYSE:SPLP) Sees Significant Drop in Short Interest

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) saw a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 4,500 shares, a decrease of 27.4% from the May 15th total of 6,200 shares. Based on an average trading volume of 7,700 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on Steel Partners in a report on Monday, May 19th. They issued a "strong-buy" rating for the company.

Insider Activity

In related news, President Jack L. Howard sold 25,500 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $24.20, for a total value of $617,100.00. Following the completion of the sale, the president now directly owns 62,149 shares in the company, valued at $1,504,005.80. This represents a 29.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 84.80% of the stock is owned by corporate insiders.

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. HighTower Advisors LLC boosted its position in shares of Steel Partners by 2.2% during the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock valued at $1,149,000 after buying an additional 577 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of 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 period. Teton Advisors Inc. lifted its position in shares of Steel Partners by 4.0% during the 4th 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. Finally, Axxcess Wealth Management LLC bought a new position in shares of Steel Partners during the 1st quarter worth $330,000. 50.75% of the stock is owned by institutional investors.

Steel Partners Stock Down 0.2%

Steel Partners stock opened at $40.83 on Wednesday. The company has a market capitalization of $781.84 million, a PE ratio of 4.19 and a beta of 1.28. Steel Partners has a 12-month low of $27.00 and a 12-month high of $48.45. The firm's fifty day moving average is $37.61 and its 200 day moving average is $40.11. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.

Steel Partners Dividend Announcement

The company also recently announced a dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 3.84%. Steel Partners's dividend payout ratio is presently 3.32%.

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.

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