Steel Partners (NYSE:SPLP) Sees Strong Trading Volume - Time to Buy?

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 11,629 shares traded hands during trading, an increase of 208% from the previous session's volume of 3,774 shares.The stock last traded at $33.05 and had previously closed at $31.00.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Steel Partners in a report on Thursday. They set a "strong-buy" rating for the company.

Steel Partners Stock Up 0.8 %

The firm has a 50-day simple moving average of $39.92 and a two-hundred day simple moving average of $40.79. The stock has a market cap of $644.72 million, a P/E ratio of 3.45 and a beta of 1.01. The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11.

Steel Partners (NYSE:SPLP - Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The conglomerate reported $3.40 earnings per share (EPS) for the quarter. Steel Partners had a net margin of 11.43% and a return on equity of 21.72%. The firm had revenue of $497.92 million during the quarter.

Hedge Funds Weigh In On Steel Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its position in shares of Steel Partners by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock worth $1,149,000 after purchasing an additional 577 shares during the period. Gamco Investors INC. ET AL increased its holdings in Steel Partners by 3.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock valued at $4,123,000 after buying an additional 3,300 shares during the period. Finally, Teton Advisors Inc. raised its position 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 in the last quarter. 50.75% of the stock is owned by institutional investors and hedge funds.

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.