Steel Partners (NYSE:SPLP) Stock Price Down 4.1% – Here’s What Happened

Steel Partners Holdings L.P. (NYSE:SPLP) was down 4.1% during mid-day trading on Friday . The company traded as low as $40.03 and last traded at $41.18. Approximately 2,640 shares changed hands during mid-day trading, an increase of 58% from the average daily volume of 1,666 shares. The stock had previously closed at $42.95.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Steel Partners in a research report on Wednesday. They set a “strong-buy” rating on the stock.

Steel Partners Stock Performance

The stock has a market cap of $789.83 million, a PE ratio of 4.22 and a beta of 1.38. The firm’s 50-day moving average is $41.64 and its 200 day moving average is $40.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.

Institutional Investors Weigh In On Steel Partners

A number of institutional investors and hedge funds have recently made changes to their positions in SPLP. Teton Advisors Inc. raised its stake in shares of Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 500 shares during the last quarter. De Lisle Partners LLP increased its stake in Steel Partners by 83.0% in the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after buying an additional 10,377 shares during the period. HighTower Advisors LLC raised its position in Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after buying an additional 635 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after acquiring an additional 3,300 shares during the period. 50.75% of the stock is 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.