Steel Partners (NYSE:SPLP) Shares Cross Above 200 Day Moving Average – Time to Sell?

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price crossed 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.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Steel Partners in a report on Wednesday. They issued a “strong-buy” rating for the company.

Steel Partners Stock Up 2.4 %

The firm has a market cap of $815.36 million, a price-to-earnings 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 stock has a 50-day moving average of $41.18 and a 200-day moving average of $39.34.

Institutional Investors Weigh In On Steel Partners

A number of large investors have recently bought and sold shares of the company. De Lisle Partners LLP lifted its stake 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. HighTower Advisors LLC raised its holdings in shares of Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after buying an additional 635 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position 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 buying an additional 1,700 shares during the last quarter. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.