Steel Partners (NYSE:SPLP) Stock Price Up 12.2% – What’s Next?

Steel Partners Holdings L.P. (NYSE:SPLP) shares shot up 12.2% during trading on Monday . The stock traded as high as $40.88 and last traded at $40.54. 2,637 shares were traded during trading, a decline of 48% from the average session volume of 5,074 shares. The stock had previously closed at $36.12.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Steel Partners in a report on Friday. They set a “strong-buy” rating on the stock.

Steel Partners Price Performance

The company’s fifty day moving average price is $40.33 and its 200 day moving average price is $38.53. The company has a market capitalization of $834.69 million, a P/E ratio of 3.70 and a beta of 1.36. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.08.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. Teton Advisors Inc. grew its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 22.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,500 shares of the conglomerate’s stock after buying an additional 2,300 shares during the quarter. Teton Advisors Inc. owned approximately 0.06% of Steel Partners worth $496,000 as of its most recent SEC filing. 50.75% of the stock is owned by institutional investors.

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.