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

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) 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 Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Steel Partners in a research report on Monday, March 24th. They set a “strong-buy” rating on the stock.

Steel Partners Stock Down 1.1 %

The firm has a 50 day moving average of $41.16 and a two-hundred day moving average of $41.23. 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 $801.82 million, a PE ratio of 4.31 and a beta of 1.37.

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 during the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Trading of Steel Partners

Large investors have recently modified their holdings of the business. De Lisle Partners LLP lifted its stake in 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 buying an additional 10,377 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Steel Partners by 2.5% in the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after acquiring an additional 635 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Teton Advisors Inc. boosted its stake 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 valued at $553,000 after acquiring an additional 500 shares during the last quarter. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.