Steel Partners (NYSE:SPLP) Stock Passes Below 200 Day Moving Average of $41.03

Steel Partners Holdings L.P. (NYSE:SPLPGet Rating)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.03 and traded as low as $39.85. Steel Partners shares last traded at $41.99, with a volume of 2,486 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Steel Partners from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 12th.

Steel Partners Stock Up 2.2 %

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.75 and a quick ratio of 1.49. The stock has a market capitalization of $869.82 million, a PE ratio of 12.35 and a beta of 1.52. The business’s fifty day moving average price is $42.11 and its two-hundred day moving average price is $41.03.

Steel Partners (NYSE:SPLPGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The conglomerate reported $0.20 earnings per share for the quarter. The business had revenue of $405.75 million during the quarter. Steel Partners had a net margin of 5.14% and a return on equity of 13.15%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA purchased a new stake in Steel Partners during the 1st quarter valued at about $122,000. HM Payson & Co. purchased a new position in shares of Steel Partners during the 1st quarter worth approximately $153,000. Advisory Services Network LLC purchased a new position in shares of Steel Partners during the 1st quarter worth approximately $287,000. FORVIS Wealth Advisors LLC purchased a new position in shares of Steel Partners during the 2nd quarter worth approximately $388,000. Finally, HighTower Advisors LLC boosted its position in shares of Steel Partners by 3.6% during the 4th quarter. HighTower Advisors LLC now owns 18,474 shares of the conglomerate’s stock worth $776,000 after purchasing an additional 641 shares during the period. Institutional investors and hedge funds own 91.57% of the company’s stock.

Steel Partners Company Profile

(Get Rating)

Steel Partners Holdings L.P., through its subsidiaries, engages in industrial products, energy, defense, supply chain management, logistics, banking, and youth sports businesses worldwide. It operates through Diversified Industrial, Energy, and Financial Services 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.

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