Steel Partners (NYSE:SPLP) Trading Up 6.1% - Here's What Happened

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) shares were up 6.1% during mid-day trading on Monday . The stock traded as high as $32.88 and last traded at $32.88. Approximately 5,614 shares traded hands during trading, an increase of 49% from the average daily volume of 3,762 shares. The stock had previously closed at $31.00.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Steel Partners in a report on Thursday. They set a "strong-buy" rating for the company.

Steel Partners Price Performance

The firm has a market cap of $644.72 million, a PE ratio of 3.45 and a beta of 1.01. The firm has a fifty day simple moving average of $39.92 and a two-hundred day simple moving average of $40.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.

Steel Partners (NYSE:SPLP - Get Free Report) last announced its quarterly 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 company had revenue of $497.92 million for the quarter.

Institutional Investors Weigh In On Steel Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teton Advisors Inc. increased its position 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 purchasing an additional 500 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Steel Partners by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock valued at $1,149,000 after acquiring an additional 577 shares during the period. Finally, Gamco Investors INC. ET AL lifted 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 worth $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.