Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) shares dropped 4.5% during mid-day trading on Wednesday . The stock traded as low as $38.00 and last traded at $38.21. Approximately 700 shares were traded during trading, a decline of 76% from the average daily volume of 2,929 shares. The stock had previously closed at $40.00.
Wall Street Analyst Weigh In
Separately, StockNews.com assumed coverage on Steel Partners in a research note on Wednesday. They issued a "strong-buy" rating for the company.
Check Out Our Latest Research Report on SPLP
Steel Partners Stock Down 14.6 %
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's 50 day moving average is $40.67 and its two-hundred day moving average is $41.05. The firm has a market capitalization of $599.43 million, a P/E ratio of 3.21 and a beta of 1.01.
Steel Partners (NYSE:SPLP - Get Free Report) last released 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 net margin of 11.43% and a return on equity of 21.72%.
Institutional Trading of Steel Partners
Several institutional investors and hedge funds have recently bought and sold shares of the business. Teton Advisors Inc. boosted its stake in shares of Steel Partners by 4.0% during the 4th 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 position in Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate's stock worth $1,082,000 after purchasing an additional 635 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock valued at $4,123,000 after purchasing an additional 3,300 shares during the last quarter. Institutional investors own 50.75% of the company's stock.
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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