Steel Partners (NYSE:SPLP) Shares Gap Up – Time to Buy?

Steel Partners Holdings L.P. (NYSE:SPLP) shares gapped up prior to trading on Monday . The stock had previously closed at $39.70, but opened at $41.03. Steel Partners shares last traded at $40.39, with a volume of 1,025 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Steel Partners in a research note on Sunday. They issued a “strong-buy” rating on the stock.

Steel Partners Stock Performance

The company has a fifty day moving average of $41.16 and a two-hundred day moving average of $41.09. The firm has a market capitalization of $779.69 million, a price-to-earnings ratio of 4.19 and a beta of 1.37. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.

Steel Partners (NYSE:SPLP) last posted its earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%. The company had revenue of $497.92 million during the quarter.

Institutional Trading of Steel Partners

Several large investors have recently modified their holdings of the stock. Teton Advisors Inc. increased its stake in Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after acquiring an additional 500 shares during the last quarter. De Lisle Partners LLP increased its stake in shares of Steel Partners by 83.0% in the 3rd 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 during the last quarter. HighTower Advisors LLC lifted its position in shares of Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after buying an additional 635 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its stake in 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 buying an additional 3,300 shares in the last quarter. 50.75% of the stock is owned by institutional investors and hedge funds.

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.