Steel Partners (NYSE:SPLP) Sees Strong Trading Volume – Still a Buy?

Steel Partners Holdings L.P. (NYSE:SPLP) shares saw an uptick in trading volume on Wednesday . 14,345 shares changed hands during mid-day trading, an increase of 188% from the previous session’s volume of 4,981 shares.The stock last traded at $41.95 and had previously closed at $41.50.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Steel Partners in a research report on Sunday. They issued a “strong-buy” rating on the stock.

Steel Partners Price Performance

The company has a market capitalization of $843.73 million, a P/E ratio of 4.26 and a beta of 1.36. 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 business’s 50-day simple moving average is $40.47 and its 200 day simple moving average is $38.90.

Institutional Trading of Steel Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. De Lisle Partners LLP boosted its stake in Steel Partners by 83.0% in the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after buying an additional 10,377 shares in the last quarter. Gabelli Funds LLC raised its stake in shares of Steel Partners by 0.3% in the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after acquiring an additional 1,700 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after buying an additional 635 shares in the last 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.