Steel Partners Holdings L.P. (NYSE:SPLP) Short Interest Up 300.0% in July

Key Points

• The short interest for Steel Partners Holdings L.P. increased by 300.0% in July, reaching a total of 400 shares as of July 15th.
• The company recently declared a $0.375 dividend with a yield of 3.84% and a payout ratio of 3.32%.
• Insider activity includes President Jack L. Howard purchasing 29,000 shares at an average cost of $24.20, increasing his ownership in the company significantly.

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 400 shares, a growth of 300.0% from the June 30th total of 100 shares. Based on an average daily trading volume, of 900 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the company's shares are short sold.

Steel Partners Price Performance

Shares of SPLP stock traded up $1.52 during midday trading on Tuesday, reaching $42.00. 1,594 shares of the company traded hands, compared to its average volume of 3,398. The firm has a market cap of $840.13 million, a PE ratio of 4.31 and a beta of 1.25. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The firm's 50 day simple moving average is $40.50 and its two-hundred day simple moving average is $39.80. Steel Partners has a 1-year low of $27.95 and a 1-year high of $48.45.

Steel Partners Announces Dividend

The firm also recently declared a dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were given 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%.

Analyst Ratings Changes

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

Insider Activity at Steel Partners

In other Steel Partners news, President Jack L. Howard bought 29,000 shares of Steel Partners stock in a transaction on Wednesday, May 14th. The shares were bought at an average cost of $24.20 per share, for a total transaction of $701,800.00. Following the acquisition, the president directly owned 143,516 shares in the company, valued at $3,473,087.20. This represents a 25.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 84.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Steel Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL raised its holdings in Steel Partners by 4.7% in the 1st 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 last quarter. Axxcess Wealth Management LLC acquired a new position in Steel Partners in the first quarter valued at $330,000. Finally, Teton Advisors Inc. lifted its position in Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock worth $553,000 after buying an additional 500 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.

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