Steel Partners (NYSE:SPLP) Trading Down 5.6% - What's Next?

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) shares dropped 5.6% during mid-day trading on Monday . The stock traded as low as $39.39 and last traded at $39.39. Approximately 103 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 3,521 shares. The stock had previously closed at $41.73.

Analysts Set New Price Targets

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

Steel Partners Price Performance

The stock has a market cap of $787.80 million, a P/E ratio of 4.04 and a beta of 1.25. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The firm's fifty day moving average price is $39.91 and its 200-day moving average price is $39.95.

Steel Partners Announces Dividend

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

Insider Activity at Steel Partners

In other news, President Jack L. Howard sold 25,500 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $24.20, for a total transaction of $617,100.00. Following the transaction, the president directly owned 62,149 shares of the company's stock, valued at $1,504,005.80. This represents a 29.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 84.80% of the company's stock.

Hedge Funds Weigh In On Steel Partners

Hedge funds have recently modified their holdings of the stock. Teton Advisors Inc. lifted its holdings in Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock valued at $553,000 after buying an additional 500 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Steel Partners by 2.2% in the fourth 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 in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Steel Partners by 3.5% in the fourth 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. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Steel Partners in the first quarter worth approximately $330,000. Hedge funds and other 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.

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