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

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 traded.

Wall Street Analyst Weigh In

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

Steel Partners Stock Performance

The business has a fifty day simple moving average of $41.11 and a 200-day simple moving average of $41.12. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The firm has a market cap of $791.61 million, a P/E ratio of 4.26 and a beta of 1.37.

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

Institutional Trading of Steel Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teton Advisors Inc. boosted its holdings in shares of Steel Partners by 4.0% in 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 during the period. HighTower Advisors LLC raised its position in Steel Partners by 2.2% during 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 in the last quarter. Gamco Investors INC. ET AL raised its position in 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 purchasing an additional 3,300 shares in the last quarter. Finally, De Lisle Partners LLP raised its position in Steel Partners by 83.0% during the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after purchasing an additional 10,377 shares in the last quarter. Institutional investors 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.