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

Steel Partners Holdings L.P. (NYSE:SPLP) gapped down prior to trading 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Steel Partners in a report on Thursday, March 21st. They set a “strong-buy” rating on the stock.

Steel Partners Stock Performance

The firm 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 current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average is $37.75 and its two-hundred day moving average is $10,140.30.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in Steel Partners during the fourth quarter worth $120,000. BNP Paribas Arbitrage SA bought a new stake in shares of Steel Partners during the 1st quarter worth $122,000. Teton Advisors Inc. boosted its holdings in shares of Steel Partners by 4.1% in the 4th quarter. Teton Advisors Inc. now owns 10,200 shares of the conglomerate’s stock worth $408,000 after buying an additional 400 shares during the last quarter. Finally, HighTower Advisors LLC grew 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 valued at $792,000 after buying an additional 573 shares during the period. 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.