Steel Partners (NYSE:SPLP) Shares Down 4.1% - Time to Sell?

Steel Partners Holdings L.P. (NYSE:SPLP) experienced a notable decline of 4.1% in its stock price during trading on Friday, closing at $41.18 after hitting a low of $40.03. The trading volume was approximately 2,640 shares, which represents a significant increase of 58% compared to the average daily volume of 1,666 shares. The stock had closed the previous day at $42.95.

New Price Targets from Analysts

In a separate report, StockNews.com began its coverage of Steel Partners, issuing a "strong-buy" rating on the stock. This opinion reflects optimism among certain analysts regarding the company's potential for growth.

Performance Metrics of Steel Partners

Steel Partners currently maintains a current ratio of 1.27, a quick ratio of 1.16, and a debt-to-equity ratio of 0.11. The stock's 50-day moving average stands at $41.68, while the 200-day moving average is $40.56. Steel Partners has a market capitalization of approximately $805.56 million and a price-to-earnings ratio of 4.31, coupled with a beta of 1.38, indicating the stock’s volatility compared to the market.

Hedge Fund Activity

Several hedge funds have made adjustments to their positions in Steel Partners recently. For instance, Teton Advisors Inc. increased its stake by 4.0%, owning now 13,000 shares valued at $553,000 after adding 500 shares. HighTower Advisors LLC raised its position by 2.2%, accumulating 26,997 shares worth $1,149,000 with an additional 577 shares purchased in the last quarter. Likewise, Gamco Investors Inc. ET AL expanded its holdings by 3.5%, now holding 96,864 shares valued at $4,123,000 after securing 3,300 added shares. Additionally, De Lisle Partners LLP increased its stake in Steel Partners by an impressive 83.0%, now owning 22,877 shares worth $924,000 after purchasing 10,377 shares. A total of 50.75% of Steel Partners stock is currently held by hedge funds and institutional investors.

Overview of Steel Partners Holdings

Steel Partners Holdings L.P., along with its subsidiaries, is engaged in various sectors including industrial products, energy, banking, defense, supply chain management, logistics, and youth sports on a global scale. The company operates through segments like Diversified Industrial, Energy, Financial Services, and Supply Chain, catering to a broad range of industries by fabricating and manufacturing various products including precious metals and alloys, seamless stainless steel tubing coils, adhesives, fastening systems, and specialty applications in woven substrates.

Final Thoughts

Investors may want to consider current market trends and the stock’s latest performance before making decisions regarding Steel Partners. The recent decline in stock price raises questions about potential sell-offs, yet analysts maintain a positive outlook, highlighting the importance of careful evaluation.

Steel, Partners, Stocks