Steelcase Inc. (NYSE:SCS - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $11.00 and last traded at $11.30, with a volume of 618054 shares trading hands. The stock had previously closed at $11.20.
Wall Street Analyst Weigh In
Separately, Noble Financial began coverage on shares of Steelcase in a research report on Wednesday, October 9th. They set an "outperform" rating and a $16.00 price target for the company.
Read Our Latest Research Report on Steelcase
Steelcase Stock Up 0.9 %
The stock has a market cap of $1.29 billion, a P/E ratio of 10.66, a P/E/G ratio of 1.29 and a beta of 1.36. The company has a quick ratio of 1.23, a current ratio of 1.62 and a debt-to-equity ratio of 0.48. The company has a 50-day simple moving average of $12.71 and a two-hundred day simple moving average of $13.05.
Steelcase (NYSE:SCS - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.07. The firm had revenue of $794.90 million for the quarter, compared to analysts' expectations of $796.58 million. Steelcase had a net margin of 4.02% and a return on equity of 14.41%. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 earnings per share. On average, equities analysts forecast that Steelcase Inc. will post 1 EPS for the current year.
Steelcase Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Monday, December 30th. Steelcase's payout ratio is currently 41.67%.
Insider Activity
In other Steelcase news, VP Robert G. Krestakos sold 4,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $13.11, for a total value of $52,440.00. Following the completion of the transaction, the vice president now owns 119,481 shares in the company, valued at approximately $1,566,395.91. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.96% of the company's stock.
Institutional Trading of Steelcase
A number of hedge funds have recently made changes to their positions in SCS. Hotchkis & Wiley Capital Management LLC bought a new position in Steelcase in the 3rd quarter worth about $6,167,000. BNP Paribas Financial Markets lifted its stake in shares of Steelcase by 322.3% in the third quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider's stock worth $7,720,000 after buying an additional 436,754 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Steelcase by 129.9% during the second quarter. Victory Capital Management Inc. now owns 522,956 shares of the business services provider's stock valued at $6,778,000 after buying an additional 295,482 shares during the last quarter. American Century Companies Inc. increased its position in shares of Steelcase by 13.5% during the second quarter. American Century Companies Inc. now owns 2,450,799 shares of the business services provider's stock valued at $31,762,000 after acquiring an additional 291,070 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Steelcase by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 5,297,183 shares of the business services provider's stock valued at $68,652,000 after acquiring an additional 215,729 shares in the last quarter. 92.42% of the stock is owned by institutional investors.
About Steelcase
(
Get Free Report)
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.
Read More
Before you consider Steelcase, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Steelcase wasn't on the list.
While Steelcase currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
