Steel Partners (NYSE:SPLP) Trading Up 9.6% – Time to Buy?

Steel Partners Holdings L.P. (NYSE:SPLP)’s share price traded up 9.6% during trading on Thursday . The company traded as high as $40.93 and last traded at $40.55. 1,514 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 1,852 shares. The stock had previously closed at $37.00.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Steel Partners in a research note on Saturday, January 11th. They issued a “strong-buy” rating for the company.

Steel Partners Stock Up 1.9 %

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 $799.21 million, a price-to-earnings ratio of 4.27 and a beta of 1.39. The business’s 50 day moving average is $41.96 and its 200 day moving average is $40.03.

Institutional Investors Weigh In On Steel Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPLP. De Lisle Partners LLP lifted its position in Steel Partners by 83.0% in 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. HighTower Advisors LLC lifted its position in Steel Partners by 2.5% in the 3rd quarter. HighTower Advisors LLC now owns 26,420 shares of the conglomerate’s stock worth $1,082,000 after buying an additional 635 shares in the last quarter. Finally, Gabelli Funds LLC lifted 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 in the last quarter. Hedge funds and other institutional investors own 50.75% of the company’s stock.

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.