Steel Partners (NYSE:SPLP) Shares Gap Down – Here’s What Happened

Steel Partners Holdings L.P. (NYSE:SPLP) gapped down prior to trading on Tuesday . The stock had previously closed at $42.49, but opened at $41.05. Steel Partners shares last traded at $41.70, with a volume of 1,996 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Steel Partners in a research report on Tuesday. They issued a “strong-buy” rating on the stock.

Steel Partners Stock Down 0.5 %

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 company has a market cap of $810.72 million, a price-to-earnings ratio of 4.34 and a beta of 1.38. The business has a fifty day moving average price of $42.04 and a two-hundred day moving average price of $40.40.

Steel Partners (NYSE:SPLP) last released its earnings results on Friday, November 8th. The conglomerate reported $1.65 earnings per share (EPS) for the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%. The company had revenue of $520.42 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. De Lisle Partners LLP lifted its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,877 shares of the conglomerate’s stock after buying an additional 10,377 shares during the quarter. De Lisle Partners LLP owned about 0.12% of Steel Partners worth $924,000 as of its most recent filing with the SEC. 50.75% of the stock is 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.