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

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $41.39, but opened at $42.51. Steel Partners shares last traded at $41.95, with a volume of 503 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Steel Partners in a report on Monday. They issued a “strong-buy” rating for the company.

Steel Partners Trading Up 1.4 %

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 stock has a market cap of $800.20 million, a PE ratio of 4.30 and a beta of 1.37. The business’s fifty day moving average is $41.13 and its 200 day moving average is $41.21.

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share for the quarter. The business had revenue of $497.92 million for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Teton Advisors Inc. lifted its stake in Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after buying an additional 500 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Steel Partners by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after acquiring an additional 577 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after purchasing an additional 3,300 shares during the last quarter. Finally, De Lisle Partners LLP boosted its position in Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after acquiring an additional 10,377 shares during the last quarter. Institutional investors and hedge funds own 50.75% of the company’s stock.

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.