Steel Partners (NYSE:SPLP) Shares Gap Up - What's Next?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $41.39, but opened at $42.51. Steel Partners shares last traded at $41.95, with a volume of 503 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Steel Partners in a research report on Monday, March 24th. They issued a "strong-buy" rating for the company.

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 firm's fifty day moving average price is $41.16 and its 200-day moving average price is $41.24. The company has a market cap of $782.17 million, a P/E ratio of 4.21 and a beta of 1.37.

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 company 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%.

Hedge Funds Weigh In On Steel Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teton Advisors Inc. raised its holdings in shares of 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 acquiring an additional 500 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate's stock valued at $1,082,000 after buying an additional 635 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in shares of Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock worth $4,123,000 after purchasing an additional 3,300 shares during the last 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.