Steel Partners (NYSE:SPLP) Shares Gap Up - Still a Buy?

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $39.55, but opened at $41.00. Steel Partners shares last traded at $41.00, with a volume of 100 shares trading hands.

Wall Street Analyst Weigh In

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

Steel Partners Stock Performance

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 company has a 50 day simple moving average of $39.16 and a 200-day simple moving average of $40.01. 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 firm also recently announced a dividend, which was paid on Sunday, June 15th. Investors of record on Monday, June 2nd were given a $0.375 dividend. This represents a yield of 3.84%. The ex-dividend date was Friday, May 30th. Steel Partners's payout ratio is presently 3.32%.

Insider Transactions at Steel Partners

In other news, President Jack L. Howard sold 25,500 shares of the business'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 completion of the sale, the president owned 62,149 shares of the company's stock, valued at approximately $1,504,005.80. The trade was a 29.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 84.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Steel Partners

A number of large investors have recently bought and sold shares of SPLP. Teton Advisors Inc. boosted its stake in shares of Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock valued at $553,000 after purchasing an additional 500 shares during the period. HighTower Advisors LLC raised its holdings in 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 buying an additional 577 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in 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 during the period. Finally, Axxcess Wealth Management LLC bought a new stake in Steel Partners in the 1st quarter worth $330,000. 50.75% of the stock is owned by hedge funds and other institutional investors.

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.