Steel Partners (NYSE:SPLP) Stock Price Down 3.6%

Steel Partners Holdings L.P. (NYSE:SPLP) was down 3.6% during mid-day trading on Friday . The company traded as low as $40.25 and last traded at $40.25. Approximately 135 shares traded hands during trading, a decline of 98% from the average daily volume of 5,694 shares. The stock had previously closed at $41.76.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Steel Partners in a report on Sunday. They set a “strong-buy” rating on the stock.

Steel Partners Stock Performance

The business’s fifty day moving average price is $38.91 and its 200-day moving average price is $38.21. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26. The stock has a market cap of $820.82 million, a PE ratio of 5.89 and a beta of 1.35.

Steel Partners (NYSE:SPLP) last announced its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share (EPS) for the quarter. The firm had revenue of $533.16 million for the quarter. Steel Partners had a net margin of 11.04% and a return on equity of 21.44%.

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC increased its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 596,503 shares of the conglomerate’s stock after buying an additional 1,700 shares during the quarter. Gabelli Funds LLC owned 2.93% of Steel Partners worth $22,207,000 at the end of the most recent reporting period. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.