Steel Partners (NYSE:SPLP) Shares Gap Down – Should You Sell?

Steel Partners Holdings L.P. (NYSE:SPLP)’s share price gapped down before the market opened on Monday . The stock had previously closed at $40.91, but opened at $40.00. Steel Partners shares last traded at $40.00, with a volume of 181 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on shares of Steel Partners in a research report on Monday, May 19th. They set a “strong-buy” rating for the company.

Steel Partners Stock Down 0.2%

The firm’s 50-day moving average price is $37.61 and its 200 day moving average price is $40.11. The firm has a market cap of $781.84 million, a P/E ratio of 4.19 and a beta of 1.28. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.

Steel Partners Announces Dividend

The company also recently declared a dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a dividend yield of 3.84%. Steel Partners’s dividend payout ratio is currently 3.32%.

Insider Transactions at Steel Partners

In related news, President Jack L. Howard sold 25,500 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $24.20, for a total value of $617,100.00. Following the completion of the transaction, the president now owns 62,149 shares in the company, valued at $1,504,005.80. This represents a 29.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 84.80% of the company’s stock.

Hedge Funds Weigh In On Steel Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Teton Advisors Inc. grew its position in Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after buying an additional 500 shares in the last quarter. HighTower Advisors LLC grew its position in Steel Partners by 2.2% in the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after buying an additional 577 shares in the last quarter. Gamco Investors INC. ET AL grew its position in Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after buying an additional 3,300 shares in the last quarter. Finally, Axxcess Wealth Management LLC bought a new position in Steel Partners in the 1st quarter valued at about $330,000. Institutional investors 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.