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

Steel Partners Holdings L.P. (NYSE:SPLP) shares gapped up prior to trading on Monday . The stock had previously closed at $39.40, but opened at $40.20. Steel Partners shares last traded at $42.02, with a volume of 181 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Steel Partners in a report on Tuesday. They set a “strong-buy” rating for the company.

Steel Partners Stock Down 0.5 %

The stock has a market cap of $810.74 million, a P/E ratio of 4.34 and a beta of 1.38. The firm has a 50 day simple moving average of $42.05 and a 200-day simple moving average of $40.43. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.

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

Institutional Investors Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. De Lisle Partners LLP raised its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter. 50.75% of the stock is currently owned by hedge funds and other 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.