Steel Partners (NYSE:SPLP) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) saw an uptick in trading volume on Tuesday . 10,949 shares changed hands during trading, an increase of 304% from the previous session’s volume of 2,710 shares.The stock last traded at $37.50 and had previously closed at $44.00.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Steel Partners in a report on Saturday, January 11th. They issued a “strong-buy” rating on the stock.

Steel Partners Stock Down 1.1 %

The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $41.84 and a two-hundred day simple moving average of $39.99. The company has a market capitalization of $776.69 million, a P/E ratio of 4.15 and a beta of 1.39.

Hedge Funds Weigh In On Steel Partners

Several large investors have recently modified their holdings of the stock. HighTower Advisors LLC boosted its stake in Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after buying an additional 635 shares during the period. 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 valued at $22,207,000 after acquiring an additional 1,700 shares during the period. Finally, De Lisle Partners LLP lifted its holdings in shares of Steel Partners by 83.0% in the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after acquiring an additional 10,377 shares during the last quarter. 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.