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

Steel Partners Holdings L.P. (NYSE:SPLP) shares saw unusually-high trading volume on Wednesday . Approximately 2,672 shares changed hands during trading, an increase of 10% from the previous session’s volume of 2,430 shares.The stock last traded at $38.37 and had previously closed at $40.20.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Steel Partners in a research report on Monday. They issued a “strong-buy” rating on the stock.

Steel Partners Price Performance

The stock has a market capitalization of $781.87 million, a PE ratio of 4.18 and a beta of 1.39. The company’s 50 day simple moving average is $41.99 and its 200 day simple moving average is $40.28. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. De Lisle Partners LLP lifted its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,877 shares of the conglomerate’s stock after acquiring an additional 10,377 shares during the quarter. De Lisle Partners LLP owned about 0.12% of Steel Partners worth $924,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other 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.