Steel Partners (NYSE:SPLP) Trading 7% Higher – Time to Buy?

Steel Partners Holdings L.P. (NYSE:SPLP) shares traded up 7% during mid-day trading on Tuesday . The stock traded as high as $41.76 and last traded at $42.48. 1,437 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 4,556 shares. The stock had previously closed at $39.70.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Steel Partners in a report on Sunday. They issued a “strong-buy” rating on the stock.

Steel Partners Stock Up 3.7 %

The firm has a market cap of $785.41 million, a price-to-earnings ratio of 4.22 and a beta of 1.37. The firm has a 50 day moving average price of $41.14 and a 200-day moving average price of $41.10. 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 issued 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%.

Hedge Funds Weigh In On Steel Partners

Several institutional investors have recently added to or reduced their stakes in the business. Teton Advisors Inc. increased its stake in shares of Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after acquiring an additional 500 shares during the last quarter. De Lisle Partners LLP raised 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 period. HighTower Advisors LLC boosted its holdings in shares of Steel Partners by 2.5% in 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 during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after buying an additional 3,300 shares during the period. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.