Steel Partners (NYSE:SPLP) Trading Down 4.5% – Time to Sell?

Steel Partners Holdings L.P. (NYSE:SPLP)’s share price dropped 4.5% during trading on Wednesday . The company traded as low as $38.00 and last traded at $38.21. Approximately 700 shares changed 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 Analyst Weigh In

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

Steel Partners Stock Performance

The business’s fifty day simple moving average is $41.05 and its 200-day simple moving average is $41.18. The firm has a market cap of $768.34 million, a P/E ratio of 4.11 and a beta of 1.01. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SPLP. Teton Advisors Inc. grew 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 worth $553,000 after purchasing an additional 500 shares during the period. HighTower Advisors LLC grew 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 buying an additional 635 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in shares of 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 in the last quarter. 50.75% of the stock is currently owned by 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.