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

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

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Steel Partners in a research report on Wednesday. They issued a “strong-buy” rating on the stock.

Steel Partners Trading Up 5.0 %

The firm has a market cap of $768.34 million, a PE ratio of 4.11 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The company’s 50 day moving average price is $41.05 and its 200 day moving average price is $41.18.

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

Hedge Funds Weigh In On Steel Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Teton Advisors Inc. grew its holdings 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 during the period. HighTower Advisors LLC grew its stake in Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after purchasing an additional 635 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after acquiring an additional 3,300 shares during the last quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

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.