Steel Partners (NYSE:SPLP) Sees Strong Trading Volume

Steel Partners Holdings L.P. (NYSE:SPLP) saw strong trading volume on Friday . 81,465 shares changed hands during mid-day trading, an increase of 833% from the previous session’s volume of 8,731 shares.The stock last traded at $37.75 and had previously closed at $38.00.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Steel Partners in a research report on Wednesday. They set a “strong-buy” rating on the stock.

Steel Partners Stock Performance

The stock has a 50 day moving average of $37.91 and a 200-day moving average of $10,068.90. The company has a market capitalization of $769.72 million, a P/E ratio of 5.53 and a beta of 1.30. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 0.21.

Steel Partners (NYSE:SPLP) last issued its quarterly earnings results on Wednesday, May 8th. The conglomerate reported $1.50 earnings per share for the quarter. The business had revenue of $476.35 million for the quarter. Steel Partners had a net margin of 8.27% and a return on equity of 16.83%.

Institutional Investors Weigh In On Steel Partners

An institutional investor recently raised its position in Steel Partners stock. HighTower Advisors LLC increased its holdings in shares of Steel Partners Holdings L.P. (NYSE:SPLP) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,065 shares of the conglomerate’s stock after purchasing an additional 522 shares during the quarter. HighTower Advisors LLC owned approximately 0.11% of Steel Partners worth $1,023,000 at the end of the most recent reporting period. 50.75% of the stock is owned by institutional investors.

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.