Steel Partners Holdings L.P. (NYSE:SPLP) Short Interest Down 27.4% in May

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

Insiders Place Their Bets

In other Steel Partners news, President Jack L. Howard sold 25,500 shares of Steel Partners stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $24.20, for a total transaction of $617,100.00. Following the sale, the president now owns 62,149 shares in the company, valued at $1,504,005.80. The trade was a 29.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 84.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SPLP. Axxcess Wealth Management LLC bought a new position in shares of Steel Partners during the first quarter valued at $330,000. Gamco Investors INC. ET AL lifted its holdings in shares of Steel Partners by 4.7% during the first quarter. Gamco Investors INC. ET AL now owns 101,372 shares of the conglomerate's stock valued at $4,157,000 after acquiring an additional 4,508 shares during the period. HighTower Advisors LLC lifted its holdings 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 acquiring an additional 577 shares during the period. Finally, Teton Advisors Inc. lifted its holdings 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 acquiring an additional 500 shares during the period. 50.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen assumed coverage on shares of Steel Partners in a research note on Monday, May 19th. They set a "strong-buy" rating on the stock.

Steel Partners Price Performance

Shares of NYSE SPLP traded up $0.18 during midday trading on Friday, reaching $41.00. 3,452 shares of the company traded hands, compared to its average volume of 3,530. The firm has a market cap of $785.19 million, a PE ratio of 4.21 and a beta of 1.28. The stock's 50-day simple moving average is $37.90 and its 200-day simple moving average is $40.06. Steel Partners has a 12 month low of $27.00 and a 12 month high of $48.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.

Steel Partners Dividend Announcement

The business also recently disclosed a dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.375 per share. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 3.84%. Steel Partners's 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.