Steel Partners (NYSE:SPLP) Shares Down 5.3% - Time to Sell?

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) shares traded down 5.3% during trading on Wednesday . The company traded as low as $40.03 and last traded at $40.26. 2,006 shares were traded during trading, an increase of 17% from the average session volume of 1,708 shares. The stock had previously closed at $42.49.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Steel Partners in a research report on Tuesday. They set a "strong-buy" rating on the stock.

Steel Partners Price Performance

The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The firm has a market cap of $767.78 million, a P/E ratio of 4.11 and a beta of 1.38. The stock's 50-day simple moving average is $42.01 and its 200 day simple moving average is $40.44.

Steel Partners (NYSE:SPLP - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The conglomerate reported $1.65 EPS for the quarter. The business had revenue of $520.42 million for the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%.

Hedge Funds Weigh In On Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. De Lisle Partners LLP increased its holdings in Steel Partners Holdings L.P. (NYSE:SPLP - Free Report) by 83.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,877 shares of the conglomerate's stock after acquiring an additional 10,377 shares during the period. De Lisle Partners LLP owned about 0.12% of Steel Partners worth $924,000 at the end of the most recent quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

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.