Steel Partners (NYSE:SPLP) Shares Gap Down – Here’s Why

Steel Partners Holdings L.P. (NYSE:SPLP)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $44.92, but opened at $42.25. Steel Partners shares last traded at $42.50, with a volume of 1,600 shares trading hands.

Steel Partners Stock Down 5.4%

The company has a market capitalization of $849.92 million, a price-to-earnings ratio of 4.36 and a beta of 1.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16. The firm’s fifty day moving average price is $42.32 and its 200-day moving average price is $40.97.

Institutional Trading of Steel Partners

A hedge fund recently raised its stake in Steel Partners stock. Gamco Investors INC. ET AL raised its stake in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 101,372 shares of the conglomerate’s stock after purchasing an additional 4,508 shares during the period. Gamco Investors INC. ET AL owned 0.53% of Steel Partners worth $4,157,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.