Steel Partners (NYSE:SPLP) Sees Strong Trading Volume – Here’s Why

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) saw unusually-high trading volume on Friday . Approximately 1,997 shares were traded during trading, an increase of 48% from the previous session’s volume of 1,348 shares.The stock last traded at $42.16 and had previously closed at $42.81.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Steel Partners in a research report on Friday. They set a “strong-buy” rating on the stock.

Steel Partners Stock Down 1.6 %

The firm has a 50 day simple moving average of $41.44 and a 200-day simple moving average of $39.66. 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 stock has a market capitalization of $807.88 million, a price-to-earnings ratio of 4.32 and a beta of 1.38.

Institutional Trading of Steel Partners

Hedge funds have recently modified their holdings of the stock. Gabelli Funds LLC boosted its stake in shares of Steel Partners by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after purchasing an additional 1,700 shares during the last quarter. De Lisle Partners LLP boosted its stake in Steel Partners by 83.0% in the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after acquiring an additional 10,377 shares during the last quarter. Finally, HighTower Advisors LLC grew 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 acquiring an additional 635 shares during the period. 50.75% of the stock is owned by institutional investors.

About Steel Partners

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.