Steel Partners (NYSE:SPLP) Sees Strong Trading Volume – Time to Buy?

Steel Partners Holdings L.P. (NYSE:SPLP) saw strong trading volume on Wednesday . 14,345 shares were traded during 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 initiated coverage on Steel Partners in a research note on Sunday. They issued a “strong-buy” rating on the stock.

Steel Partners Stock Up 6.0 %

The business has a 50-day simple moving average of $40.47 and a two-hundred day simple moving average of $38.90. The company has a market capitalization of $843.73 million, a price-to-earnings ratio of 4.26 and a beta of 1.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.

Institutional Trading of Steel Partners

Large investors have recently made changes to their positions in the stock. De Lisle Partners LLP grew its holdings 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 purchasing an additional 10,377 shares during the period. HighTower Advisors LLC grew its position in Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after acquiring an additional 635 shares during the period. Finally, Gabelli Funds LLC lifted 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 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.