Steel Partners (NYSE:SPLP) Sees Large Volume Increase – Still a Buy?

Steel Partners Holdings L.P. (NYSE:SPLP) shares saw unusually-high trading volume on Monday . Approximately 3,380 shares changed hands during trading, a decline of 24% from the previous session’s volume of 4,426 shares.The stock last traded at $41.42 and had previously closed at $41.47.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Steel Partners in a research note on Monday. They issued a “strong-buy” rating on the stock.

Steel Partners Stock Down 0.1 %

The stock has a 50 day moving average price of $41.07 and a 200 day moving average price of $41.18. The stock has a market capitalization of $790.18 million, a price-to-earnings ratio of 4.25 and a beta of 1.37. The company has a quick ratio of 1.16, a current ratio of 1.27 and a debt-to-equity ratio of 0.11.

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

Institutional Trading of Steel Partners

Several large investors have recently made changes to their positions in the company. Teton Advisors Inc. grew its stake in shares of Steel Partners by 4.0% in the 4th quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate’s stock valued at $553,000 after buying an additional 500 shares during the period. HighTower Advisors LLC boosted its stake in Steel Partners by 2.2% during the 4th quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate’s stock valued at $1,149,000 after purchasing an additional 577 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Steel Partners by 3.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate’s stock worth $4,123,000 after buying an additional 3,300 shares in the last quarter. Finally, De Lisle Partners LLP lifted 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 worth $924,000 after buying an additional 10,377 shares in the last quarter. 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.