Steel Partners (NYSE:SPLP) Sees Large Volume Increase – Here’s Why

Steel Partners Holdings L.P. (NYSE:SPLP) saw an uptick in trading volume on Thursday . 2,640 shares traded hands during mid-day trading, an increase of 58% from the previous session’s volume of 1,666 shares.The stock last traded at $40.96 and had previously closed at $42.95.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Steel Partners in a research note on Wednesday. They set a “strong-buy” rating for the company.

Steel Partners Trading Down 2.0 %

The firm has a market capitalization of $789.83 million, a PE ratio of 4.22 and a beta of 1.38. The stock’s 50-day moving average price is $41.64 and its 200 day moving average price is $40.58. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16.

Hedge Funds Weigh In On Steel Partners

A number of large investors have recently added to or reduced their stakes in SPLP. De Lisle Partners LLP grew its position 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 buying an additional 10,377 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Steel Partners by 2.5% during the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after purchasing an additional 635 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Teton Advisors Inc. grew its stake in Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after buying an additional 500 shares during the last quarter. 50.75% of the stock is currently 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.