Steel Partners (NYSE:SPLP) Sees Unusually-High Trading Volume – Time to Buy?

Steel Partners Holdings L.P. (NYSE:SPLP) saw strong trading volume on Friday . 12,358 shares changed hands during mid-day trading, an increase of 140% from the previous session’s volume of 5,154 shares.The stock last traded at $44.00 and had previously closed at $42.44.

Analyst Upgrades and Downgrades

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

Steel Partners Stock Down 0.4 %

The firm has a market cap of $810.57 million, a PE ratio of 4.33 and a beta of 1.38. The company has a 50-day simple moving average of $41.30 and a 200-day simple moving average of $39.51. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16.

Hedge Funds Weigh In On Steel Partners

Large investors have recently bought and sold shares of the business. De Lisle Partners LLP raised its stake in shares of Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after acquiring an additional 10,377 shares in the last quarter. HighTower Advisors LLC increased its holdings 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 raised its position in Steel Partners by 0.3% during 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. 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.