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

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) shares saw strong trading volume on Friday . 1,997 shares traded hands during mid-day trading, an increase of 48% from the previous session's volume of 1,348 shares.The stock last traded at $42.16 and had previously closed at $42.81.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Steel Partners in a research note on Friday. They set a "strong-buy" rating for the company.

Steel Partners Price Performance

The stock's 50 day simple moving average is $41.44 and its 200-day simple moving average is $39.66. The stock has a market capitalization of $821.31 million, a price-to-earnings ratio of 4.39 and a beta of 1.38. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.27 and a quick ratio of 1.16.

Hedge Funds Weigh In On Steel Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPLP. De Lisle Partners LLP increased its stake in shares of Steel Partners by 83.0% in 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. Gabelli Funds LLC increased its position in 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 buying an additional 1,700 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in shares of 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 buying an additional 635 shares during the last quarter. Institutional investors and hedge funds own 50.75% of the company's stock.

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.