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

Steel Partners Holdings L.P. (NYSE:SPLP)’s stock price dropped 4.5% during trading on Wednesday . The stock traded as low as $38.00 and last traded at $38.21. Approximately 700 shares were traded 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 assumed coverage on Steel Partners in a research report on Wednesday. They set a “strong-buy” rating on the stock.

Steel Partners Trading Down 14.6 %

The stock has a 50 day moving average of $40.67 and a 200-day moving average of $41.05. The company has a market capitalization of $599.43 million, a P/E ratio of 3.21 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 posted its quarterly earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share for the quarter. The business had revenue of $497.92 million during the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%.

Institutional Investors Weigh In On Steel Partners

A number of institutional investors have recently bought and sold shares of SPLP. Teton Advisors Inc. lifted its position in shares of 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 in the last quarter. HighTower Advisors LLC grew its position in shares of Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after purchasing an additional 635 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in shares of Steel Partners by 3.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after purchasing an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 50.75% of the company’s stock.

Steel Partners Company Profile

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.