Steel Partners (NYSE:SPLP) Sees Large Volume Increase – Still a Buy?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) saw strong trading volume on Wednesday . 14,345 shares changed 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 Ratings Changes

Separately, StockNews.com assumed coverage on Steel Partners in a report on Sunday, November 24th. They set a “strong-buy” rating for the company.

Steel Partners Stock Up 6.0 %

The stock has a fifty day moving average price of $40.58 and a two-hundred day moving average price of $38.97. The company has a market cap of $843.73 million, a price-to-earnings 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 Trading of Steel Partners

A number of institutional investors have recently bought and sold shares of the business. Gabelli Funds LLC increased its holdings in shares of 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 grew its position in Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after buying an additional 635 shares in the last quarter. Finally, De Lisle Partners LLP increased its stake in 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 acquiring an additional 10,377 shares during the period. Institutional investors 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.