Steel Partners (NYSE:SPLP) Trading Down 3.3% - Here's Why

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report)'s stock price traded down 3.3% on Monday . The stock traded as low as $39.55 and last traded at $39.55. 589 shares were traded during mid-day trading, a decline of 84% from the average session volume of 3,674 shares. The stock had previously closed at $40.90.

Wall Street Analyst Weigh In

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

Steel Partners Price Performance

The company's 50 day moving average price is $39.16 and its two-hundred day moving average price is $40.01. 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 firm has a market cap of $840.04 million, a PE ratio of 4.31 and a beta of 1.25.

Steel Partners Dividend Announcement

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

Insider Transactions at Steel Partners

In other news, President Jack L. Howard sold 25,500 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $24.20, for a total value of $617,100.00. Following the transaction, the president owned 62,149 shares of the company's stock, valued at $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 available through this hyperlink. Corporate insiders own 84.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SPLP. Axxcess Wealth Management LLC bought a new stake in Steel Partners during the 1st quarter worth approximately $330,000. Teton Advisors Inc. increased 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 worth $553,000 after purchasing an additional 500 shares in the last quarter. HighTower Advisors LLC raised its position 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 valued at $1,149,000 after purchasing an additional 577 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock valued at $4,123,000 after buying an additional 3,300 shares in the last quarter. 50.75% of the stock is currently owned by institutional investors.

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.