Steel Partners (NYSE:SPLP) Shares Down 4.1% – Here’s What Happened

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) fell 4.1% on Friday . The company traded as low as $40.03 and last traded at $41.18. 2,640 shares traded hands during trading, an increase of 58% from the average session volume of 1,666 shares. The stock had previously closed at $42.95.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Steel Partners in a report on Wednesday. They issued a “strong-buy” rating for the company.

Steel Partners Trading Down 2.0 %

The firm has a market cap of $789.83 million, a price-to-earnings ratio of 4.22 and a beta of 1.38. The business has a fifty day moving average of $41.64 and a two-hundred day moving average of $40.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.

Institutional Investors Weigh In On Steel Partners

Several institutional investors and hedge funds have recently made changes to their positions in the business. Teton Advisors Inc. raised its position in Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after acquiring an additional 500 shares during the last quarter. De Lisle Partners LLP increased its stake in shares of Steel Partners by 83.0% during the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after purchasing an additional 10,377 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after purchasing an additional 635 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake 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 in the last quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

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.