Steel Partners (NYSE:SPLP) Shares Down 5.6% - Here's What Happened

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

Analysts Set New Price Targets

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

Steel Partners Stock Performance

The company has a market cap of $787.80 million, a PE ratio of 4.04 and a beta of 1.25. 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's 50-day simple moving average is $40.07 and its two-hundred day simple moving average is $39.90.

Steel Partners Dividend Announcement

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

Insiders Place Their Bets

In other Steel Partners news, President Jack L. Howard sold 25,500 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $24.20, for a total transaction of $617,100.00. Following 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 84.80% of the company's stock.

Institutional Trading of Steel Partners

Several large investors have recently bought and sold shares of the stock. Axxcess Wealth Management LLC purchased a new stake in shares of Steel Partners in the 1st quarter valued at $330,000. Gamco Investors INC. ET AL boosted its holdings in Steel Partners by 4.7% during the first quarter. Gamco Investors INC. ET AL now owns 101,372 shares of the conglomerate's stock worth $4,157,000 after buying an additional 4,508 shares in the last quarter. HighTower Advisors LLC boosted its holdings 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 buying an additional 577 shares in the last quarter. Finally, Teton Advisors Inc. boosted its holdings in Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock worth $553,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 50.75% of the company's stock.

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.