Steel Partners (NYSE:SPLP) Shares Gap Down – What’s Next?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) gapped down before the market opened on Tuesday . The stock had previously closed at $41.94, but opened at $40.89. Steel Partners shares last traded at $41.26, with a volume of 1,027 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Steel Partners in a research report on Tuesday. They issued a “strong-buy” rating on the stock.

Steel Partners Stock Down 1.6 %

The firm’s fifty day moving average is $41.15 and its 200-day moving average is $41.24. The company has a market capitalization of $786.94 million, a P/E ratio of 4.23 and a beta of 1.37. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.

Steel Partners (NYSE:SPLP) last posted its 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 firm had revenue of $497.92 million for the quarter.

Hedge Funds Weigh In On Steel Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Teton Advisors Inc. boosted its stake in shares of Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after purchasing an additional 500 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after buying an additional 3,300 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position in Steel Partners by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock worth $1,149,000 after buying an additional 577 shares during the period. Institutional investors and hedge funds own 50.75% of the company’s 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.