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

Steel Partners Holdings L.P. (NYSE:SPLP)’s share price gapped up before the market opened on Friday . The stock had previously closed at $41.01, but opened at $41.84. Steel Partners shares last traded at $40.77, with a volume of 3,532 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Steel Partners in a research note on Tuesday, April 1st. They issued a “strong-buy” rating on the stock.

Steel Partners Price Performance

The company has a market capitalization of $763 million, a P/E ratio of 4.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The company’s 50-day moving average price is $41.16 and its two-hundred day moving average price is $41.23.

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

Institutional Trading of Steel Partners

Several institutional investors have recently added to or reduced their stakes in the company. Teton Advisors Inc. lifted its holdings 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 buying an additional 500 shares in the last quarter. Gamco Investors INC. ET AL increased its position in Steel Partners by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after acquiring an additional 3,300 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in Steel Partners by 2.2% in the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after purchasing an additional 577 shares during the period. 50.75% of the stock is currently owned by 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.