Steel Partners (NYSE:SPLP) Shares Gap Up – Should You Buy?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) 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 changing hands.

Analyst Ratings Changes

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

Steel Partners Stock Down 0.5 %

The firm has a 50 day simple moving average of $42.05 and a two-hundred day simple moving average of $40.43. The stock has a market capitalization of $810.74 million, a P/E ratio of 4.34 and a beta of 1.38. 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 announced its quarterly earnings data on Friday, November 8th. The conglomerate reported $1.65 earnings per share for the quarter. The business had revenue of $520.42 million during the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. De Lisle Partners LLP raised its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,877 shares of the conglomerate’s stock after acquiring an additional 10,377 shares during the quarter. De Lisle Partners LLP owned approximately 0.12% of Steel Partners worth $924,000 as of its most recent SEC filing. 50.75% of the stock is currently owned by 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.