Steel Partners (NYSE:SPLP) Sees Unusually-High Trading Volume – Here’s Why

Steel Partners Holdings L.P. (NYSE:SPLP) saw unusually-high trading volume on Tuesday . Approximately 11,629 shares traded hands during trading, an increase of 208% from the previous session’s volume of 3,774 shares.The stock last traded at $33.05 and had previously closed at $31.00.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Steel Partners in a research report on Wednesday, April 9th. They set a “strong-buy” rating for the company.

Steel Partners Trading Down 2.1 %

The stock has a fifty day moving average of $40.51 and a 200 day moving average of $41.00. 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 company has a market capitalization of $632.84 million, a P/E ratio of 3.39 and a beta of 1.01.

Steel Partners (NYSE:SPLP) last posted its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 EPS for the quarter. The firm had revenue of $497.92 million for the quarter. Steel Partners had a return on equity of 21.72% and a net margin of 11.43%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SPLP. HighTower Advisors LLC raised its holdings in Steel Partners by 2.5% during the third quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock valued at $1,082,000 after acquiring an additional 635 shares during the period. Teton Advisors Inc. grew its position in shares of Steel Partners by 4.0% during the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 500 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock valued at $4,123,000 after purchasing an additional 3,300 shares during the period. 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.