Steel Partners (NYSE:SPLP) Shares Gap Up – Should You Buy?

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $41.39, but opened at $42.51. Steel Partners shares last traded at $41.95, with a volume of 503 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Steel Partners in a report on Monday. They issued a “strong-buy” rating on the stock.

Steel Partners Trading Up 1.4 %

The business’s 50-day moving average is $41.13 and its two-hundred day moving average is $41.21. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $800.20 million, a PE ratio of 4.30 and a beta of 1.37.

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Tuesday, March 11th. The conglomerate reported $3.40 EPS for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%. The firm had revenue of $497.92 million for the quarter.

Hedge Funds Weigh In On Steel Partners

Institutional investors have recently added to or reduced their stakes in the company. Teton Advisors Inc. increased its position 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 worth $553,000 after acquiring an additional 500 shares during the last quarter. De Lisle Partners LLP increased 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 worth $924,000 after purchasing an additional 10,377 shares during the last quarter. HighTower Advisors LLC raised its position in shares of 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 purchasing an additional 635 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in shares of Steel Partners by 3.5% during 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. Institutional investors and hedge funds 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.