Steel Partners (NYSE:SPLP) Sees Strong Trading Volume – Here’s What Happened

Steel Partners Holdings L.P. (NYSE:SPLP) shares saw unusually-high trading volume on Friday . Approximately 1,997 shares traded hands during 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 Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Steel Partners in a report on Friday. They set a “strong-buy” rating on the stock.

Steel Partners Stock Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The company has a market cap of $807.88 million, a P/E ratio of 4.32 and a beta of 1.38. The firm has a 50 day moving average price of $41.44 and a 200-day moving average price of $39.66.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC lifted its position 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 worth $1,082,000 after purchasing an additional 635 shares during the last quarter. Gabelli Funds LLC increased its position in Steel Partners by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after buying an additional 1,700 shares during the period. Finally, De Lisle Partners LLP lifted its holdings 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 worth $924,000 after buying 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.