Steel Partners (NYSE:SPLP) Sees Large Volume Increase – What’s Next?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) saw unusually-strong trading volume on Tuesday . Approximately 10,949 shares were traded during mid-day 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 Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Steel Partners in a research note on Saturday, January 11th. They set a “strong-buy” rating on the stock.

Steel Partners Stock Performance

The firm’s 50-day moving average price is $41.84 and its 200-day moving average price is $39.99. 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 cap of $776.69 million, a P/E ratio of 4.15 and a beta of 1.39.

Institutional Trading of Steel Partners

Several hedge funds have recently bought and sold shares of the stock. De Lisle Partners LLP grew its position in shares of Steel Partners by 83.0% during 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 in the last quarter. Gabelli Funds LLC grew 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 valued at $22,207,000 after buying an additional 1,700 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in Steel Partners by 2.5% in 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 last quarter. Hedge funds and other 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.