Steel Partners (NYSE:SPLP) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $40.85 and traded as high as $42.50. Steel Partners shares last traded at $41.29, with a volume of 507 shares changing hands.

Wall Street Analysts Forecast Growth

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

Steel Partners Stock Up 0.5 %

The stock has a market capitalization of $792.53 million, a P/E ratio of 4.24 and a beta of 1.38. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The company’s 50-day moving average price is $41.54 and its 200 day moving average price is $40.85.

Institutional Trading of Steel Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. De Lisle Partners LLP grew its holdings in Steel Partners by 83.0% during the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after buying an additional 10,377 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Steel Partners by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after acquiring an additional 3,300 shares in the last quarter. HighTower Advisors LLC increased its holdings in Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after acquiring an additional 635 shares during the last quarter. Finally, Teton Advisors Inc. increased its holdings in Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after acquiring an additional 500 shares during 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.