Steel Partners (NYSE:SPLP) Shares Gap Up – Should You Buy?

by · The Cerbat Gem

Steel Partners Holdings L.P. (NYSE:SPLP – Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $43.25, but opened at $47.00. Steel Partners shares last traded at $47.00, with a volume of 218 shares.

Steel Partners Stock Up 8.7%

The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The firm has a market cap of $938.07 million, a price-to-earnings ratio of 4.82 and a beta of 0.58. The firm has a 50 day moving average price of $42.22 and a 200-day moving average price of $41.71.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. Gamco Investors INC. ET AL boosted its holdings in Steel Partners Holdings L.P. (NYSE:SPLP – Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,372 shares of the conglomerate’s stock after purchasing an additional 4,508 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.53% of Steel Partners worth $4,157,000 as of its most recent filing with the Securities and Exchange Commission. 50.75% of the stock is currently owned by institutional investors.

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.

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