Steel Partners (NYSE:SPLP) Sees Unusually-High Trading Volume – What’s Next?

Steel Partners Holdings L.P. (NYSE:SPLP) saw an uptick in trading volume on Tuesday . 10,949 shares were traded during trading, an increase of 304% from the previous session’s volume of 2,710 shares.The stock last traded at $37.50 and had previously closed at $44.00.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Steel Partners in a research note on Saturday. They issued a “strong-buy” rating for the company.

Steel Partners Price Performance

The company has a 50 day moving average of $41.85 and a 200 day moving average of $39.99. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $719.44 million, a price-to-earnings ratio of 3.85 and a beta of 1.39.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. De Lisle Partners LLP grew its stake in 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 period. HighTower Advisors LLC boosted its position in 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 period. Finally, Gabelli Funds LLC increased its holdings in Steel Partners by 0.3% in the 2nd quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock valued at $22,207,000 after purchasing an additional 1,700 shares in the last quarter. 50.75% of the stock is owned by hedge funds and other institutional investors.

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.