Steel Partners (NYSE:SPLP) Shares Down 5.3% – What’s Next?

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price fell 5.3% on Wednesday . The company traded as low as $40.03 and last traded at $40.26. 2,006 shares were traded during mid-day trading, an increase of 17% from the average session volume of 1,708 shares. The stock had previously closed at $42.49.

Analyst Ratings Changes

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

Steel Partners Stock Performance

The business has a 50-day moving average price of $41.93 and a 200-day moving average price of $40.44. 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 capitalization of $767.78 million, a price-to-earnings ratio of 4.11 and a beta of 1.38.

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Friday, November 8th. The conglomerate reported $1.65 EPS for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%. 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 increased its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,877 shares of the conglomerate’s stock after acquiring an additional 10,377 shares during the period. De Lisle Partners LLP owned approximately 0.12% of Steel Partners worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 50.75% of the stock is owned by institutional investors.

Steel Partners Company Profile

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.