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

Steel Partners Holdings L.P. (NYSE:SPLP) shares saw an uptick in trading volume on Wednesday . 14,345 shares traded hands 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 assumed coverage on shares of Steel Partners in a research note on Sunday, November 24th. They issued a “strong-buy” rating for the company.

Steel Partners Price Performance

The business has a fifty day moving average of $40.58 and a 200 day moving average of $38.97. The firm has a market cap of $843.73 million, a P/E ratio of 4.51 and a beta of 1.36. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SPLP. Gabelli Funds LLC boosted its position in Steel Partners by 0.3% during the second 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 period. HighTower Advisors LLC raised its position in shares of Steel Partners by 2.5% in the third 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 period. Finally, De Lisle Partners LLP lifted its stake in shares of Steel Partners by 83.0% during 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. 50.75% of the stock is owned by institutional investors and hedge funds.

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.