Steel Partners Holdings L.P. (NYSE:SPLP – Get Free Report) shares traded down 7.9% during trading on Monday . The company traded as low as $34.98 and last traded at $35.01. 1,885 shares changed hands during trading, a decline of 70% from the average session volume of 6,264 shares. The stock had previously closed at $38.00.
Analysts Set New Price Targets
Separately, StockNews.com started coverage on shares of Steel Partners in a research report on Monday. They issued a “strong-buy” rating on the stock.
Check Out Our Latest Analysis on SPLP
Steel Partners Price Performance
Steel Partners (NYSE:SPLP – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share for the quarter. Steel Partners had a return on equity of 21.44% and a net margin of 11.04%. The firm had revenue of $533.16 million for the quarter.
Institutional Investors Weigh In On Steel Partners
An institutional investor recently raised its position in Steel Partners stock. Teton Advisors Inc. increased its holdings in Steel Partners Holdings L.P. (NYSE:SPLP – Free Report) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,200 shares of the conglomerate’s stock after purchasing an additional 400 shares during the quarter. Teton Advisors Inc.’s holdings in Steel Partners were worth $408,000 as of its most recent filing with the Securities & Exchange Commission. 50.75% of the stock is 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.
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