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

Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) saw an uptick in trading volume on Friday . 4,403 shares were traded during mid-day trading, an increase of 26% from the previous session's volume of 3,493 shares.The stock last traded at $40.00 and had previously closed at $39.51.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on Steel Partners in a research report on Monday, May 19th. They issued a "strong-buy" rating for the company.

Steel Partners Price Performance

The firm has a market cap of $766.04 million, a PE ratio of 4.10 and a beta of 1.21. The firm has a fifty day simple moving average of $37.65 and a two-hundred day simple moving average of $40.22. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.16 and a current ratio of 1.27.

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

Steel Partners Dividend Announcement

The firm also recently declared a dividend, which will be paid on Sunday, June 15th. Investors of record on Monday, June 2nd will be issued a $0.375 dividend. The ex-dividend date is Friday, May 30th. This represents a yield of 3.84%. Steel Partners's payout ratio is 3.32%.

Insiders Place Their Bets

In related news, President Jack L. Howard purchased 29,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $24.20 per share, for a total transaction of $701,800.00. Following the completion of the transaction, the president now directly owns 143,516 shares of the company's stock, valued at approximately $3,473,087.20. This trade represents a 25.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 84.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake 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 valued at $1,149,000 after acquiring an additional 577 shares in the last quarter. Teton Advisors Inc. raised its stake in Steel Partners by 4.0% in the fourth 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. Gamco Investors INC. ET AL grew its holdings in shares of Steel Partners by 3.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 96,864 shares of the conglomerate's stock worth $4,123,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Steel Partners during the first quarter worth about $330,000. 50.75% of the stock is currently owned by institutional investors and hedge funds.

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.