Steel Partners (NYSE:SPLP) Sees Strong Trading Volume – Still a Buy?

Steel Partners Holdings L.P. (NYSE:SPLP) shares saw an uptick in trading volume on Thursday . 2,640 shares changed hands during mid-day trading, an increase of 58% from the previous session’s volume of 1,666 shares.The stock last traded at $40.96 and had previously closed at $42.95.

Analyst Upgrades and Downgrades

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

Steel Partners Price Performance

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 fifty day moving average of $41.64 and a 200 day moving average of $40.58. The stock has a market cap of $789.83 million, a price-to-earnings ratio of 4.22 and a beta of 1.38.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SPLP. De Lisle Partners LLP raised its position in Steel Partners by 83.0% in 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 during the period. HighTower Advisors LLC grew its holdings 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 in the last quarter. Gamco Investors INC. ET AL increased its stake in Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after buying an additional 3,300 shares during the period. Finally, Teton Advisors Inc. lifted its holdings in Steel Partners by 4.0% during the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds 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.