Steel Partners (NYSE:SPLP) Sees Large Volume Increase – Should You Buy?

Steel Partners Holdings L.P. (NYSE:SPLP) saw unusually-strong trading volume on Wednesday . Approximately 2,672 shares changed hands during trading, an increase of 10% from the previous session’s volume of 2,430 shares.The stock last traded at $38.37 and had previously closed at $40.20.

Wall Street Analysts Forecast Growth

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

Steel Partners Trading Up 4.0 %

The stock has a fifty day simple moving average of $42.00 and a 200 day simple moving average of $40.28. The firm has a market capitalization of $785.92 million, a P/E ratio of 4.20 and a beta of 1.39. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings results on Friday, November 8th. The conglomerate reported $1.65 EPS for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%. The company had revenue of $520.42 million for the quarter.

Institutional Trading of Steel Partners

An institutional investor recently raised its position in Steel Partners stock. De Lisle Partners LLP grew its stake in Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,877 shares of the conglomerate’s stock after purchasing an additional 10,377 shares during the period. De Lisle Partners LLP owned approximately 0.12% of Steel Partners worth $924,000 at the end of the most recent reporting period. 50.75% of the stock is owned by institutional investors.

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.