Steel Partners (NYSE:SPLP) Sees Unusually-High Trading Volume

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) saw an uptick in trading volume on Wednesday . 13,411 shares traded hands during mid-day trading, an increase of 128% from the previous session’s volume of 5,892 shares.The stock last traded at $40.79 and had previously closed at $40.00.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Steel Partners in a research report on Thursday, September 5th. They issued a “strong-buy” rating for the company.

Steel Partners Trading Up 3.1 %

The company has a 50-day moving average price of $37.76 and a two-hundred day moving average price of $37.85. The stock has a market cap of $841.09 million, a P/E ratio of 5.86 and a beta of 1.35. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 0.08.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings data on Wednesday, August 7th. The conglomerate reported $4.85 earnings per share for the quarter. The business had revenue of $533.16 million for the quarter. Steel Partners had a net margin of 11.04% and a return on equity of 21.44%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. Gabelli Funds LLC increased its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 0.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 596,503 shares of the conglomerate’s stock after purchasing an additional 1,700 shares during the period. Gabelli Funds LLC owned 2.93% of Steel Partners worth $22,207,000 as of its most recent SEC filing. 50.75% of the stock is currently owned by institutional investors.

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.