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

Steel Partners Holdings L.P. (NYSE:SPLP) gapped up prior to trading on Wednesday . The stock had previously closed at $43.10, but opened at $44.90. Steel Partners shares last traded at $44.95, with a volume of 734 shares changing hands.

Steel Partners Stock Performance

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 stock has a 50-day simple moving average of $43.00 and a 200 day simple moving average of $42.15. The company has a market cap of $880.57 million, a price-to-earnings ratio of 4.51 and a beta of 0.58.

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. Gamco Investors INC. ET AL lifted its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,648 shares of the conglomerate’s stock after acquiring an additional 3,276 shares during the quarter. Gamco Investors INC. ET AL owned 0.52% of Steel Partners worth $4,139,000 as of its most recent SEC filing. Institutional investors and hedge funds own 50.75% of the company’s stock.

About Steel Partners

Steel Partners Holdings L.P. (NYSE:SPLP) is a diversified holding company founded in 1990 by Robert P. Steel. Through a collection of operating subsidiaries, the firm invests in and manages businesses across a range of industries, including steel and metal manufacturing, precision machining, performance materials, and equipment distribution. In addition to its core industrial operations, Steel Partners maintains interests in real estate, transportation services, dental support, and digital imaging solutions, reflecting a strategy of building value through diversified assets.

Headquartered in New York, Steel Partners conducts operations through regional offices, manufacturing plants and distribution centers located throughout the United States, Canada and selected European markets.