Steel Partners (NYSE:SPLP) Sees Large Volume Increase – What’s Next?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) saw unusually-high trading volume on Thursday . Approximately 2,640 shares traded 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.

Analysts Set New Price Targets

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

Steel Partners Stock Down 3.9 %

The firm’s fifty day moving average price is $41.72 and its 200-day moving average price is $40.56. 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 firm has a market capitalization of $791.83 million, a P/E ratio of 4.23 and a beta of 1.38.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. HighTower Advisors LLC raised its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,997 shares of the conglomerate’s stock after buying an additional 577 shares during the period. HighTower Advisors LLC owned about 0.14% of Steel Partners worth $1,149,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.