Steel Partners (NYSE:SPLP) Sees Unusually-High Trading Volume – What’s Next?

Steel Partners Holdings L.P. (NYSE:SPLP) shares saw an uptick in trading volume on Friday . 1,997 shares were traded during mid-day 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 Analysts Forecast Growth

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

Steel Partners Price Performance

The stock has a fifty day moving average of $41.49 and a 200-day moving average of $39.70. 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 firm has a market capitalization of $821.31 million, a P/E ratio of 4.39 and a beta of 1.38.

Institutional Trading of Steel Partners

A number of hedge funds and other institutional investors have recently modified their holdings of SPLP. De Lisle Partners LLP increased its stake 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 valued at $924,000 after buying an additional 10,377 shares during the period. HighTower Advisors LLC increased its position in Steel Partners by 2.5% in the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after purchasing an additional 635 shares during the period. Finally, Gabelli Funds LLC raised its holdings in Steel Partners by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors and hedge funds own 50.75% of the company’s stock.

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.