Wall Street Zen began coverage on shares of Steel Partners (NYSE:SPLP - Get Free Report) in a report issued on Monday. The firm set a "strong-buy" rating on the conglomerate's stock.
Steel Partners Trading Up 0.5%
Shares of SPLP stock traded up $0.21 during trading hours on Monday, reaching $39.06. 252 shares of the stock were exchanged, compared to its average volume of 3,524. Steel Partners has a 12-month low of $27.00 and a 12-month high of $48.45. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The company's 50-day moving average price is $37.87 and its 200-day moving average price is $40.22. The firm has a market capitalization of $748.09 million, a price-to-earnings ratio of 4.01 and a beta of 1.21.
Steel Partners (NYSE:SPLP - Get Free Report) last released its quarterly earnings results on Tuesday, March 11th. The conglomerate reported $3.40 EPS for the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%. The firm had revenue of $497.92 million during the quarter.
Insider Buying and Selling
In related news, President Jack L. Howard sold 25,500 shares of Steel Partners stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $24.20, for a total transaction of $617,100.00. Following the completion of the sale, the president now owns 62,149 shares in the company, valued at $1,504,005.80. This trade represents a 29.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 84.80% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Steel Partners
Large investors have recently modified their holdings of the business. Gamco Investors INC. ET AL raised its stake in shares of Steel Partners by 4.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 101,372 shares of the conglomerate's stock worth $4,157,000 after acquiring an additional 4,508 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in shares of Steel Partners during the 1st quarter worth approximately $330,000. Teton Advisors Inc. raised its stake 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 worth $553,000 after acquiring an additional 500 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Steel Partners by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock worth $1,149,000 after acquiring an additional 577 shares in the last quarter. Institutional investors own 50.75% of the company's stock.
About Steel Partners
(
Get Free Report)
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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