Steel Partners (NYSE:SPLP) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $39.30 and traded as high as $41.83. Steel Partners shares last traded at $41.50, with a volume of 3,629 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Steel Partners in a research note on Wednesday. They set a “strong-buy” rating on the stock.

Steel Partners Price Performance

The company’s 50 day simple moving average is $41.09 and its 200 day simple moving average is $39.30. 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 stock has a market capitalization of $796.18 million, a PE ratio of 4.26 and a beta of 1.38.

Institutional Trading of Steel Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPLP. Gabelli Funds LLC lifted its holdings in shares of Steel Partners by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after acquiring an additional 1,700 shares during the period. De Lisle Partners LLP increased its position in Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after purchasing an additional 10,377 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after purchasing an additional 635 shares during the period. 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.