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

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) gapped up before the market opened on Monday . The stock had previously closed at $39.70, but opened at $41.03. Steel Partners shares last traded at $40.39, with a volume of 1,025 shares trading hands.

Analyst Ratings Changes

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

Steel Partners Stock Up 3.0 %

The stock has a market cap of $779.69 million, a price-to-earnings ratio of 4.19 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. The firm’s 50-day simple moving average is $41.16 and its two-hundred day simple moving average is $41.09.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Teton Advisors Inc. raised its stake in shares of Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 500 shares in the last quarter. De Lisle Partners LLP grew its position in shares of Steel Partners by 83.0% in the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after acquiring an additional 10,377 shares during the period. HighTower Advisors LLC increased its stake 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 purchasing 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.