Steel Partners (NYSE:SPLP) Shares Gap Down - Time to Sell?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $41.94, but opened at $40.89. Steel Partners shares last traded at $41.26, with a volume of 1,027 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Steel Partners in a research note on Tuesday. They set a "strong-buy" rating for the company.

Steel Partners Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The firm has a market capitalization of $763 million, a price-to-earnings ratio of 4.10 and a beta of 1.01. The business's 50 day moving average price is $41.16 and its 200-day moving average price is $41.24.

Steel Partners (NYSE:SPLP - Get Free Report) last announced its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share for the quarter. The firm 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 Investors Weigh In On Steel Partners

Several institutional investors have recently modified their holdings 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. Gamco Investors INC. ET AL increased its holdings in Steel Partners by 3.5% during 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 in the last quarter. Finally, HighTower Advisors LLC raised its position in Steel Partners by 2.2% during the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock worth $1,149,000 after acquiring an additional 577 shares during the last quarter. Hedge funds and other institutional investors own 50.75% of the company's stock.

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.