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

Steel Partners Holdings L.P. (NYSE:SPLP) saw strong trading volume on Thursday . 1,433 shares were traded during mid-day trading, a decline of 16% from the previous session’s volume of 1,708 shares.The stock last traded at $40.23 and had previously closed at $40.53.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Steel Partners in a research report on Tuesday. They issued a “strong-buy” rating on the stock.

Steel Partners Trading Up 4.9 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The firm has a market capitalization of $805.46 million, a PE ratio of 4.31 and a beta of 1.38. The stock’s 50-day simple moving average is $41.93 and its 200-day simple moving average is $40.44.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Steel Partners stock. De Lisle Partners LLP increased its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,877 shares of the conglomerate’s stock after purchasing an additional 10,377 shares during the quarter. De Lisle Partners LLP owned approximately 0.12% of Steel Partners worth $924,000 as of its most recent filing with the Securities & Exchange Commission. 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.