Steel Partners (NYSE:SPLP) Shares Down 4.1% – Time to Sell?

Steel Partners Holdings L.P. (NYSE:SPLP) shares dropped 4.1% during trading on Friday . The stock traded as low as $40.03 and last traded at $41.18. Approximately 2,640 shares were traded 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.

Analysts Set New Price Targets

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

Steel Partners Stock Performance

The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average price is $41.68 and its two-hundred day moving average price is $40.56. The firm has a market capitalization of $805.56 million, a price-to-earnings ratio of 4.31 and a beta of 1.38.

Hedge Funds Weigh In On Steel Partners

Hedge funds have recently bought and sold shares of the company. Teton Advisors Inc. boosted its position in 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 in the last quarter. HighTower Advisors LLC boosted its position in shares of Steel Partners by 2.2% in the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock worth $1,149,000 after buying an additional 577 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after acquiring an additional 3,300 shares during the last quarter. Finally, De Lisle Partners LLP increased its holdings in Steel Partners by 83.0% during the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after acquiring an additional 10,377 shares in the last quarter. 50.75% of the stock is owned by hedge funds and other institutional investors.

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.