Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report)'s share price dropped 21.9% during trading on Friday . The company traded as low as $27.00 and last traded at $27.00. Approximately 3,901 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 4,176 shares. The stock had previously closed at $34.55.
Analyst Upgrades and Downgrades
Separately, StockNews.com initiated coverage on shares of Steel Partners in a research note on Saturday. They issued a "strong-buy" rating for the company.
Read Our Latest Research Report on SPLP
Steel Partners Price Performance
The stock has a market cap of $708.59 million, a price-to-earnings ratio of 3.79 and a beta of 1.21. The stock's 50 day moving average price is $38.70 and its two-hundred day moving average price is $40.44. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.
Steel Partners (NYSE:SPLP - Get Free Report) last issued its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 EPS 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 for the quarter.
Hedge Funds Weigh In On Steel Partners
A number of hedge funds have recently made changes to their positions in the company. Axxcess Wealth Management LLC acquired a new stake in Steel Partners in the 1st quarter valued at about $330,000. Teton Advisors Inc. increased its position in shares of Steel Partners by 4.0% during 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. HighTower Advisors LLC raised its position in Steel Partners by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock valued at $1,149,000 after purchasing an additional 577 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock worth $4,123,000 after acquiring an additional 3,300 shares in the last quarter. Institutional investors and hedge funds 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.
Recommended Stories
Before you consider Steel Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Steel Partners wasn't on the list.
While Steel Partners currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
