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

Steel Partners Holdings L.P. (NYSE:SPLP) saw unusually-strong trading volume on Monday . Approximately 3,380 shares traded hands during trading, a decline of 24% from the previous session’s volume of 4,426 shares.The stock last traded at $41.42 and had previously closed at $41.47.

Analyst Ratings Changes

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

Steel Partners Stock Performance

The business has a 50-day moving average price of $41.12 and a 200-day moving average price of $41.21. 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 firm has a market capitalization of $799.72 million, a price-to-earnings ratio of 4.30 and a beta of 1.37.

Steel Partners (NYSE:SPLP) last announced its earnings results on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. The company had revenue of $497.92 million for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Trading of Steel Partners

Institutional investors have recently bought and sold shares of the stock. De Lisle Partners LLP increased its stake in Steel Partners by 83.0% during the 3rd 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 in the last quarter. HighTower Advisors LLC increased its position in shares of Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after acquiring an additional 635 shares during the period. Gamco Investors INC. ET AL increased its position in shares of Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after acquiring an additional 3,300 shares during the period. Finally, Teton Advisors Inc. raised its stake in Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after acquiring an additional 500 shares during the last quarter. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.