Steel Partners Holdings L.P. (NYSE:SPLP) President Sells $617,100.00 in Stock

Steel Partners Holdings L.P. (NYSE:SPLP) President Jack L. Howard sold 25,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $24.20, for a total transaction of $617,100.00. Following the completion of the transaction, the president now directly owns 62,149 shares in the company, valued at approximately $1,504,005.80. The trade was a 29.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Steel Partners Price Performance

Shares of NYSE:SPLP opened at $38.50 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. Steel Partners Holdings L.P. has a 1-year low of $27.00 and a 1-year high of $48.45. The company has a market capitalization of $737.31 million, a P/E ratio of 3.95 and a beta of 1.21. The firm’s 50 day simple moving average is $38.06 and its two-hundred day simple moving average is $40.24.

Steel Partners (NYSE:SPLP) last issued 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 business had revenue of $497.92 million for the quarter.

Hedge Funds Weigh In On Steel Partners

Hedge funds have recently modified their holdings of the stock. Axxcess Wealth Management LLC purchased a new position in shares of Steel Partners in the first quarter worth $330,000. Teton Advisors Inc. lifted its holdings in shares of Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after buying an additional 500 shares in the last quarter. HighTower Advisors LLC lifted its holdings 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 worth $1,149,000 after buying an additional 577 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after buying an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 50.75% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.