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

Shares of Steel Partners Holdings L.P. (NYSE:SPLP) saw unusually-strong trading volume on Wednesday . Approximately 68,217 shares traded hands during trading, an increase of 201% from the previous session’s volume of 22,690 shares.The stock last traded at $50.05 and had previously closed at $50.35.

Steel Partners Stock Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27. The stock has a market cap of $1.00 billion, a PE ratio of 5.13 and a beta of 0.54. The firm has a fifty day moving average price of $43.88 and a 200 day moving average price of $42.57.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Steel Partners stock. Gamco Investors INC. ET AL lifted its position in Steel Partners Holdings L.P. (NYSE:SPLP) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,648 shares of the conglomerate’s stock after acquiring an additional 3,276 shares during the period. Gamco Investors INC. ET AL owned 0.52% of Steel Partners worth $4,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 50.75% of the stock is currently owned by hedge funds and other institutional investors.

Steel Partners Company Profile

Steel Partners Holdings L.P. (NYSE:SPLP) is a diversified holding company founded in 1990 by Robert P. Steel. Through a collection of operating subsidiaries, the firm invests in and manages businesses across a range of industries, including steel and metal manufacturing, precision machining, performance materials, and equipment distribution. In addition to its core industrial operations, Steel Partners maintains interests in real estate, transportation services, dental support, and digital imaging solutions, reflecting a strategy of building value through diversified assets.

Headquartered in New York, Steel Partners conducts operations through regional offices, manufacturing plants and distribution centers located throughout the United States, Canada and selected European markets.