Steel Partners (NYSE:SPLP) Sees Strong Trading Volume – Should You Buy?

Steel Partners Holdings L.P. (NYSE:SPLP) saw strong trading volume on Wednesday . 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.

Analyst Ratings Changes

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

Steel Partners Stock Up 3.5 %

The firm has a market capitalization of $781.87 million, a price-to-earnings ratio of 4.18 and a beta of 1.39. The business’s fifty day moving average price is $41.99 and its 200 day moving average price is $40.28. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

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

Hedge Funds Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. De Lisle Partners LLP boosted its holdings in Steel Partners Holdings L.P. (NYSE:SPLP) by 83.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,877 shares of the conglomerate’s stock after acquiring an additional 10,377 shares during the quarter. De Lisle Partners LLP owned about 0.12% of Steel Partners worth $924,000 as of its most recent filing with the SEC. Institutional investors own 50.75% of the company’s stock.

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.