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

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price 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.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Steel Partners in a research report on Monday, January 27th. They set a “strong-buy” rating for the company.

Steel Partners Stock Performance

The stock has a 50 day moving average of $42.02 and a 200 day moving average of $40.37. The firm has a market cap of $805.56 million, a price-to-earnings ratio of 4.31 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. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%. The business had revenue of $520.42 million during the quarter.

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. De Lisle Partners LLP boosted its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,877 shares of the conglomerate’s stock after buying 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 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.