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

Key Points

• Steel Partners Holdings L.P. experienced a significant drop in short interest, falling by 50% in July, with only 200 shares short sold as of July 31st.
• The company recently declared a $0.375 dividend with a remarkable yield of 384.0% and a payout ratio of 3.79%.
• Steel Partners has been upgraded to a "strong-buy" rating by Wall Street Zen, highlighting positive analyst sentiment towards the stock.

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) saw a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 200 shares, adropof50.0% from the July 15th total of 400 shares. Approximately0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 700 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 700 shares, the short-interest ratio is currently 0.3 days. Approximately0.0% of the shares of the company are short sold.

Steel Partners Stock Down 0.4%

Shares of NYSE:SPLP opened at $42.33 on Friday. The firm has a fifty day moving average price of $40.99 and a two-hundred day moving average price of $39.84. 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 has a one year low of $27.95 and a one year high of $48.45. The company has a market cap of $846.68 million, a price-to-earnings ratio of 4.34 and a beta of 1.30.

Steel Partners Dividend Announcement

The company also recently declared a dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were issued a $0.375 dividend. This represents a yield of 384.0%. The ex-dividend date of this dividend was Friday, May 30th. Steel Partners's dividend payout ratio (DPR) is presently 3.79%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Steel Partners stock. Axxcess Wealth Management LLC acquired a new stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 8,051 shares of the conglomerate's stock, valued at approximately $330,000. Institutional investors and hedge funds own 50.75% of the company's stock.

Analyst Upgrades and Downgrades

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

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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