Steel Partners (NYSE:SPLP) Stock Price Down 3.6%

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) were down 3.6% on Friday . The company traded as low as $40.25 and last traded at $40.25. Approximately 135 shares changed hands during trading, a decline of 98% from the average daily volume of 5,694 shares. The stock had previously closed at $41.76.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Steel Partners in a research note on Saturday, September 21st. They issued a “strong-buy” rating for the company.

Steel Partners Trading Down 3.6 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.15 and a current ratio of 1.26. The business’s 50 day moving average price is $38.85 and its 200-day moving average price is $38.20. The firm has a market cap of $820.70 million, a price-to-earnings ratio of 5.89 and a beta of 1.35.

Steel Partners (NYSE:SPLP) last released its earnings results on Wednesday, August 7th. The conglomerate reported $4.85 EPS for the quarter. The company had revenue of $533.16 million for the quarter. Steel Partners had a return on equity of 21.44% and a net margin of 11.04%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC increased its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 596,503 shares of the conglomerate’s stock after acquiring an additional 1,700 shares during the quarter. Gabelli Funds LLC owned approximately 2.93% of Steel Partners worth $22,207,000 at the end of the most recent quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

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.