Steel Partners (NYSE:SPLP) Hits New 52-Week High – Time to Buy?

Steel Partners Holdings L.P. (NYSE:SPLP) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $48.40 and last traded at $43.10, with a volume of 38900 shares changing hands. The stock had previously closed at $48.39.

Steel Partners Price Performance

The business’s 50-day simple moving average is $42.86 and its 200 day simple moving average is $42.10. The company has a market capitalization of $862.56 million, a P/E ratio of 4.42 and a beta of 0.58. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gamco Investors INC. ET AL raised its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,648 shares of the conglomerate’s stock after purchasing an additional 3,276 shares during the quarter. Gamco Investors INC. ET AL owned about 0.52% of Steel Partners worth $4,139,000 as of its most recent SEC filing. 50.75% of the stock is owned by hedge funds and other institutional investors.

Steel Partners Company Profile

Steel Partners Holdings L.P. (NYSE:SPLP) is a diversified holding company founded in 1990 by Robert P. Steel. Through a collection of operating subsidiaries, the firm invests in and manages businesses across a range of industries, including steel and metal manufacturing, precision machining, performance materials, and equipment distribution. In addition to its core industrial operations, Steel Partners maintains interests in real estate, transportation services, dental support, and digital imaging solutions, reflecting a strategy of building value through diversified assets.

Headquartered in New York, Steel Partners conducts operations through regional offices, manufacturing plants and distribution centers located throughout the United States, Canada and selected European markets.