Steel Partners (NYSE:SPLP) Sees Large Volume Increase – Here’s What Happened

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) saw strong trading volume on Thursday . 2,640 shares were traded during 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.

Analysts Set New Price Targets

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

Steel Partners Trading Down 3.9 %

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 firm has a market cap of $791.83 million, a PE ratio of 4.23 and a beta of 1.38. The company’s 50-day moving average is $41.72 and its 200 day moving average is $40.56.

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. De Lisle Partners LLP lifted its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. 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 approximately 0.12% of Steel Partners worth $924,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 50.75% of the company’s stock.

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.