Steel Partners (NYSE:SPLP) Shares Up 3.4% – Time to Buy?

Steel Partners Holdings L.P. (NYSE:SPLP) shot up 3.4% during trading on Monday . The stock traded as high as $38.21 and last traded at $41.37. 760 shares traded hands during trading, a decline of 74% from the average session volume of 2,918 shares. The stock had previously closed at $40.00.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Steel Partners in a research note on Tuesday, April 1st. They issued a “strong-buy” rating on the stock.

Steel Partners Price Performance

The business’s fifty day moving average price is $41.16 and its 200-day moving average price is $41.23. The company has a market capitalization of $742.11 million, a P/E ratio of 3.99 and a beta of 1.01. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. The firm had revenue of $497.92 million during the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Investors Weigh In On Steel Partners

A number of institutional investors have recently made changes to their positions in SPLP. Teton Advisors Inc. increased its holdings in shares of Steel Partners by 4.0% in 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 during the period. Gamco Investors INC. ET AL grew 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 worth $4,123,000 after acquiring an additional 3,300 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in 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 purchasing an additional 577 shares during the last quarter. 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.