Steel Partners (NYSE:SPLP) Shares Gap Down to $40.00

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $40.00, but opened at $37.47. Steel Partners shares last traded at $37.47, with a volume of 120 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Steel Partners in a report on Thursday, March 21st. They issued a “strong-buy” rating for the company.

Steel Partners Stock Performance

The stock has a fifty day simple moving average of $37.75 and a 200-day simple moving average of $10,140.30. The stock has a market cap of $821.55 million, a P/E ratio of 6.18 and a beta of 1.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.17 and a current ratio of 1.27.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings results on Friday, March 8th. The conglomerate reported $1.75 earnings per share for the quarter. Steel Partners had a net margin of 7.92% and a return on equity of 16.41%. The company had revenue of $466.91 million during the quarter.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Advisory Services Network LLC bought a new position in shares of Steel Partners in the 1st quarter valued at about $287,000. BNP Paribas Arbitrage SA bought a new position in Steel Partners during the first quarter worth about $122,000. HighTower Advisors LLC increased its position in Steel Partners by 3.1% during the first quarter. HighTower Advisors LLC now owns 19,047 shares of the conglomerate’s stock worth $792,000 after buying an additional 573 shares during the last quarter. Finally, Teton Advisors Inc. raised its stake in Steel Partners by 4.1% in the fourth quarter. Teton Advisors Inc. now owns 10,200 shares of the conglomerate’s stock valued at $408,000 after buying an additional 400 shares during the period. 50.75% of the stock is owned by institutional investors and hedge funds.

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.