Steelcase (NYSE:SCS) Hits New 52-Week Low – Should You Sell?

Steelcase Inc. (NYSE:SCS) shares reached a new 52-week low on Friday . The stock traded as low as $10.59 and last traded at $10.59, with a volume of 328709 shares traded. The stock had previously closed at $10.99.

Steelcase Trading Down 4.0 %

The company has a fifty day moving average of $11.65 and a two-hundred day moving average of $12.43. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33.

Steelcase (NYSE:SCS) last posted its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm had revenue of $794.90 million during the quarter, compared to analyst estimates of $796.58 million. During the same period in the previous year, the company earned $0.30 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, research analysts expect that Steelcase Inc. will post 1 EPS for the current year.

Insider Transactions at Steelcase

In other news, VP Robert G. Krestakos sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the completion of the transaction, the vice president now directly owns 114,481 shares in the company, valued at $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.96% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Diversified Trust Co lifted its holdings in shares of Steelcase by 2.9% during the fourth quarter. Diversified Trust Co now owns 31,801 shares of the business services provider’s stock worth $376,000 after buying an additional 886 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Steelcase by 0.6% in the fourth quarter. Rhumbline Advisers now owns 155,013 shares of the business services provider’s stock valued at $1,832,000 after purchasing an additional 932 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Steelcase by 2.0% in the fourth quarter. MetLife Investment Management LLC now owns 54,643 shares of the business services provider’s stock valued at $646,000 after purchasing an additional 1,079 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of Steelcase by 0.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 284,800 shares of the business services provider’s stock valued at $3,366,000 after purchasing an additional 1,500 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Steelcase by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,596 shares of the business services provider’s stock valued at $622,000 after purchasing an additional 1,741 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, mobile power, and screens.