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

Steel Partners Holdings L.P. (NYSE:SPLP) shares saw an uptick in trading volume on Tuesday . 10,949 shares were traded during trading, an increase of 304% from the previous session’s volume of 2,710 shares.The stock last traded at $37.50 and had previously closed at $44.00.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Steel Partners in a report on Saturday. They set a “strong-buy” rating for the company.

Steel Partners Stock Performance

The firm has a market cap of $719.44 million, a price-to-earnings ratio of 3.85 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. The company has a 50 day moving average of $41.85 and a 200 day moving average of $39.99.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SPLP. Gabelli Funds LLC lifted its stake in Steel Partners by 0.3% during the second quarter. Gabelli Funds LLC now owns 596,503 shares of the conglomerate’s stock worth $22,207,000 after purchasing an additional 1,700 shares during the last quarter. HighTower Advisors LLC increased its stake 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 purchasing an additional 635 shares during the last quarter. Finally, De Lisle Partners LLP raised its holdings in shares of Steel Partners by 83.0% during the third quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock worth $924,000 after purchasing an additional 10,377 shares during the period. 50.75% of the stock is currently 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.