Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $41.50, but opened at $45.00. Steel Partners shares last traded at $45.00, with a volume of 551 shares.
Analyst Upgrades and Downgrades
Separately, StockNews.com began coverage on shares of Steel Partners in a report on Wednesday. They set a "strong-buy" rating on the stock.
Get Our Latest Stock Analysis on Steel Partners
Steel Partners Stock Up 2.4 %
The stock has a market capitalization of $815.36 million, a price-to-earnings ratio of 4.36 and a beta of 1.38. 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 50 day simple moving average of $41.18 and a 200-day simple moving average of $39.34.
Hedge Funds Weigh In On Steel Partners
Several large investors have recently modified their holdings of the stock. Gabelli Funds LLC grew its stake in Steel Partners by 0.3% during the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate's stock worth $22,207,000 after buying an additional 1,700 shares in the last quarter. HighTower Advisors LLC lifted its stake 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 acquiring an additional 635 shares during the last quarter. Finally, De Lisle Partners LLP boosted its stake in shares of Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate's stock valued at $924,000 after purchasing an additional 10,377 shares in the last quarter. 50.75% of the stock is owned by institutional investors.
About Steel Partners
(
Get Free Report)
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.
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