Steel Partners (NYSE:SPLP) Sees Unusually-High Trading Volume – What’s Next?

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) saw unusually-high trading volume on Friday . 12,358 shares traded hands during mid-day trading, an increase of 140% from the previous session’s volume of 5,154 shares.The stock last traded at $44.00 and had previously closed at $42.44.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Steel Partners in a research note on Thursday. They set a “strong-buy” rating for the company.

Steel Partners Stock Down 0.4 %

The business has a 50-day moving average price of $41.30 and a 200 day moving average price of $39.51. The stock has a market capitalization of $810.57 million, a P/E ratio of 4.33 and a beta of 1.38. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

Institutional Trading of Steel Partners

Hedge funds have recently made changes to their positions in the business. 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 worth $1,082,000 after acquiring an additional 635 shares during the last quarter. Gabelli Funds LLC boosted its holdings in shares of Steel Partners by 0.3% in the 2nd 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 period. Finally, De Lisle Partners LLP increased its position in shares of Steel Partners by 83.0% during the 3rd quarter. De Lisle Partners LLP now owns 22,877 shares of the conglomerate’s stock valued at $924,000 after purchasing an additional 10,377 shares during the last quarter. 50.75% of the stock is currently owned by hedge funds and other 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.