Steel Partners (NYSE:SPLP) Shares Gap Down to $37.00

Steel Partners Holdings L.P. (NYSE:SPLP) gapped down prior to trading on Friday . The stock had previously closed at $37.00, but opened at $35.62. Steel Partners shares last traded at $35.57, with a volume of 707 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Steel Partners in a report on Tuesday, June 25th. They issued a “strong-buy” rating for the company.

Steel Partners Stock Performance

The stock’s fifty day moving average price is $37.61 and its two-hundred day moving average price is $10,138.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.13 and a current ratio of 1.24. The company has a market cap of $759.09 million, a P/E ratio of 5.45 and a beta of 1.34.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings results on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share for the quarter. Steel Partners had a net margin of 8.27% and a return on equity of 16.61%. The company had revenue of $476.35 million during the quarter.

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. boosted its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,200 shares of the conglomerate’s stock after purchasing an additional 400 shares during the period. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 at the end of the most recent quarter. Institutional investors 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.