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

Steelcase Inc. (NYSE:SCS) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.48 and last traded at $9.48, with a volume of 54903 shares traded. The stock had previously closed at $9.76.

Analysts Set New Price Targets

Separately, Sidoti raised shares of Steelcase to a “hold” rating in a research report on Friday, March 28th.

Steelcase Stock Down 4.6 %

The company has a market capitalization of $1.06 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 1.25 and a beta of 1.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. The firm’s fifty day moving average is $11.18 and its 200-day moving average is $11.99.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. The firm had revenue of $788.00 million during the quarter, compared to the consensus estimate of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 earnings per share. As a group, equities research analysts predict that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Monday, April 7th. Steelcase’s dividend payout ratio (DPR) is currently 39.60%.

Insider Buying and Selling

In other Steelcase news, VP Robert G. Krestakos sold 6,000 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $10.13, for a total value of $60,780.00. Following the transaction, the vice president now owns 139,912 shares in the company, valued at approximately $1,417,308.56. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.96% of the stock is currently owned by insiders.

Institutional Trading of Steelcase

Large investors have recently bought and sold shares of the company. Fifth Third Bancorp lifted its stake in shares of Steelcase by 6.2% in the first quarter. Fifth Third Bancorp now owns 3,802,658 shares of the business services provider’s stock worth $41,677,000 after buying an additional 223,541 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Steelcase by 42.0% during the 1st quarter. SG Americas Securities LLC now owns 45,528 shares of the business services provider’s stock valued at $499,000 after purchasing an additional 13,476 shares during the period. Green Alpha Advisors LLC grew its position in shares of Steelcase by 17.2% during the first quarter. Green Alpha Advisors LLC now owns 158,406 shares of the business services provider’s stock worth $1,736,000 after purchasing an additional 23,284 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Steelcase by 1,468.7% during the first quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider’s stock valued at $63,000 after buying an additional 5,346 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Steelcase by 92.3% during the 4th quarter. Mackenzie Financial Corp now owns 100,432 shares of the business services provider’s stock valued at $1,187,000 after purchasing an additional 48,192 shares during the last quarter. 92.42% of the stock is owned by institutional investors.

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.