Steel Partners (NYSE:SPLP) Sees Strong Trading Volume - Here's Why

Shares of Steel Partners Holdings L.P. (NYSE:SPLP - Get Free Report) saw strong trading volume on Tuesday . 11,629 shares changed hands during mid-day 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 shares of Steel Partners in a research report on Thursday. They set a "strong-buy" rating on the stock.

Steel Partners Trading Up 0.8 %

The company has a current ratio of 1.27, a quick ratio of 1.16 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $39.92 and a two-hundred day moving average of $40.79. The stock has a market capitalization of $644.72 million, a price-to-earnings ratio of 3.45 and a beta of 1.01.

Steel Partners (NYSE:SPLP - Get Free Report) last posted its earnings results 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 business had revenue of $497.92 million for the quarter.

Institutional Trading of Steel Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPLP. Teton Advisors Inc. grew its stake in shares of Steel Partners by 4.0% in the fourth quarter. Teton Advisors Inc. now owns 13,000 shares of the conglomerate's stock worth $553,000 after acquiring an additional 500 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Steel Partners by 2.2% during the fourth quarter. HighTower Advisors LLC now owns 26,997 shares of the conglomerate's stock valued at $1,149,000 after buying an additional 577 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its position in 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 buying an additional 3,300 shares in the last quarter. Institutional investors and hedge funds 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.