Steel Partners (NYSE:SPLP) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Steel Partners Holdings L.P. shares have surpassed their 200-day moving average, reaching a price of $42.00, indicating potential bullish momentum for the stock.
• Wall Street Zen has initiated coverage on Steel Partners with a "strong-buy" rating, reflecting positive analyst sentiment towards the company's future performance.
• The company recently declared a dividend of $0.375 per share, resulting in an impressive dividend yield of 384.0%.

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $39.81 and traded as high as $42.00. Steel Partners shares last traded at $42.00, with a volume of 2,789 shares traded.

Analyst Ratings Changes

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

Steel Partners Stock Performance

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 is $40.77 and its 200-day moving average is $39.78. The company has a market capitalization of $800.28 million, a P/E ratio of 4.10 and a beta of 1.30.

Steel Partners Dividend Announcement

The firm also recently declared a dividend, which was paid on Sunday, June 15th. Investors of record on Monday, June 2nd were paid a $0.375 dividend. This represents a dividend yield of 384.0%. The ex-dividend date was Friday, May 30th. Steel Partners's dividend payout ratio (DPR) is presently 3.79%.

Insider Activity

In other Steel Partners news, President Jack L. Howard purchased 29,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average cost of $24.20 per share, for a total transaction of $701,800.00. Following the purchase, the president directly owned 143,516 shares in the company, valued at $3,473,087.20. The trade was a 25.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 84.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Teton Advisors Inc. increased its stake in shares of Steel Partners by 4.0% in 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. Gamco Investors INC. ET AL raised its holdings in Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock worth $4,123,000 after buying an additional 3,300 shares during the last quarter. Finally, Axxcess Wealth Management LLC purchased a new position in Steel Partners in the first quarter worth about $330,000. 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.