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

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $40.58, but opened at $41.75. Steel Partners shares last traded at $41.75, with a volume of 100 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Steel Partners in a research note on Tuesday. They set a “strong-buy” rating for the company.

Steel Partners Price Performance

The stock has a market capitalization of $851.28 million, a P/E ratio of 4.52 and a beta of 1.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26. The firm has a fifty day moving average price of $39.74 and a two-hundred day moving average price of $38.29.

Steel Partners (NYSE:SPLP) last released its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share (EPS) for the quarter. The business had revenue of $533.16 million during the quarter. Steel Partners had a return on equity of 21.44% and a net margin of 11.04%.

Institutional Trading of Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Gabelli Funds LLC lifted its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 596,503 shares of the conglomerate’s stock after acquiring an additional 1,700 shares during the period. Gabelli Funds LLC owned 2.93% of Steel Partners worth $22,207,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 50.75% of the company’s stock.

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.