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

Steel Partners Holdings L.P. (NYSE:SPLP) shares gapped up prior to trading on Monday . The stock had previously closed at $41.50, but opened at $42.99. Steel Partners shares last traded at $42.99, with a volume of 155 shares.

Steel Partners Trading Up 3.0%

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 50 day moving average of $42.21 and a 200-day moving average of $41.43. The company has a market capitalization of $857.95 million, a P/E ratio of 4.41 and a beta of 1.00.

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Gamco Investors INC. ET AL increased its position in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,372 shares of the conglomerate’s stock after purchasing an additional 4,508 shares during the period. Gamco Investors INC. ET AL owned 0.53% of Steel Partners worth $4,157,000 at the end of the most recent 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.