Steel Partners (NYSE:SPLP) Stock Passes Below 200 Day Moving Average - Here's What Happened

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $40.24 and traded as low as $39.06. Steel Partners shares last traded at $39.06, with a volume of 252 shares trading hands.

Analyst Ratings Changes

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

Steel Partners Trading Up 1.2%

The company has a market capitalization of $766.04 million, a price-to-earnings ratio of 4.10 and a beta of 1.21. The company has a 50-day moving average price of $37.65 and a 200-day moving average price of $40.23. 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 (NYSE:SPLP - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. The company had revenue of $497.92 million for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Steel Partners Dividend Announcement

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

Insider Activity at Steel Partners

In related news, President Jack L. Howard sold 25,500 shares of the stock in a transaction dated Wednesday, May 14th. The shares were 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 owns 62,149 shares in the company, valued at approximately $1,504,005.80. This trade represents a 29.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 84.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Steel Partners

Several hedge funds have recently made changes to their positions in the stock. Gamco Investors INC. ET AL lifted its stake in shares of Steel Partners by 4.7% in the first quarter. Gamco Investors INC. ET AL now owns 101,372 shares of the conglomerate's stock valued at $4,157,000 after buying an additional 4,508 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of Steel Partners in the first quarter valued at about $330,000. Teton Advisors Inc. lifted its stake in shares of Steel Partners by 4.0% in the fourth 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 period. Finally, HighTower Advisors LLC lifted its stake in Steel Partners by 2.2% during the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock worth $1,149,000 after purchasing an additional 577 shares during the period. Institutional investors own 50.75% of the company's stock.

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.