Steel Partners (NYSE:SPLP) Stock Price Down 4.5% - Time to Sell?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) dropped 4.5% during trading on Wednesday . The company traded as low as $38.00 and last traded at $38.21. Approximately 700 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 2,929 shares. The stock had previously closed at $40.00.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Steel Partners in a research report on Wednesday, April 9th. They issued a "strong-buy" rating for the company.

Steel Partners Price Performance

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 simple moving average is $40.67 and its two-hundred day simple moving average is $41.05. The firm has a market capitalization of $646.35 million, a P/E ratio of 3.46 and a beta of 1.01.

Steel Partners (NYSE:SPLP - Get Free Report) last issued its earnings results on Tuesday, March 11th. The conglomerate reported $3.40 EPS 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%.

Hedge Funds Weigh In On Steel Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in SPLP. HighTower Advisors LLC raised its position in shares of Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate's stock worth $1,082,000 after acquiring an additional 635 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in Steel Partners by 3.5% in 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 during the last quarter. Finally, Teton Advisors Inc. lifted its holdings 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 purchasing an additional 500 shares in the last quarter. Institutional investors 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.