Steel Partners (NYSE:SPLP) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 traded.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Steel Partners in a research report on Wednesday. They set a “strong-buy” rating for the company.

Steel Partners Price Performance

The stock has a market capitalization of $815.36 million, a P/E ratio of 4.36 and a beta of 1.38. 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 simple moving average is $41.18 and its 200-day simple moving average is $39.34.

Hedge Funds Weigh In On Steel Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its position 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 acquiring an additional 635 shares during the last quarter. De Lisle Partners LLP boosted its stake in Steel Partners by 83.0% in the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after purchasing an additional 10,377 shares during the period. Finally, Gabelli Funds LLC grew its holdings in Steel Partners by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after buying an additional 1,700 shares in the last quarter. 50.75% of the stock is owned by 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.