Steel Partners (NYSE:SPLP) Reaches New 12-Month High – Here’s Why

Steel Partners Holdings L.P. (NYSE:SPLP)’s share price hit a new 52-week high on Monday . The company traded as high as $48.00 and last traded at $48.00, with a volume of 602 shares trading hands. The stock had previously closed at $45.00.

Wall Street Analysts Forecast Growth

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

Steel Partners Price Performance

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 market cap of $860.45 million, a price-to-earnings ratio of 4.62 and a beta of 1.36. The business’s 50-day simple moving average is $40.66 and its two-hundred day simple moving average is $39.02.

Hedge Funds Weigh In On Steel Partners

Hedge funds have recently bought and sold shares of the company. 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 buying an additional 10,377 shares during the last quarter. HighTower Advisors LLC increased its stake in Steel Partners by 2.5% in the third 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 in the last quarter. Finally, Gabelli Funds LLC increased its stake in Steel Partners by 0.3% in the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors own 50.75% of the company’s stock.

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.