Steel Partners (NYSE:SPLP) Sees Unusually-High Trading Volume – Here’s Why

Steel Partners Holdings L.P. (NYSE:SPLP) shares saw unusually-strong trading volume on Thursday . Approximately 1,433 shares traded hands during trading, a decline of 16% from the previous session’s volume of 1,708 shares.The stock last traded at $40.23 and had previously closed at $40.53.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Steel Partners in a report on Tuesday. They set a “strong-buy” rating for the company.

Steel Partners Trading Down 0.7 %

The company has a market cap of $771.61 million, a PE ratio of 4.13 and a beta of 1.38. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The business has a 50 day simple moving average of $42.01 and a two-hundred day simple moving average of $40.44.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings results on Friday, November 8th. The conglomerate reported $1.65 EPS for the quarter. The company had revenue of $520.42 million during the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. De Lisle Partners LLP lifted its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,877 shares of the conglomerate’s stock after acquiring an additional 10,377 shares during the period. De Lisle Partners LLP owned 0.12% of Steel Partners worth $924,000 as of its most recent filing with the Securities and Exchange Commission. 50.75% of the stock is currently 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.