Steelcase (NYSE:SCS) Reaches New 12-Month Low - Time to Sell?

Steelcase Inc. (NYSE:SCS - Get Free Report) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $10.25 and last traded at $10.49, with a volume of 37766 shares changing hands. The stock had previously closed at $10.74.

Wall Street Analyst Weigh In

Separately, Sidoti raised Steelcase to a "hold" rating in a research report on Friday, March 28th.

Steelcase Stock Up 8.3 %

The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.20 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.25 and a beta of 1.12. The business's 50-day moving average price is $11.43 and its 200-day moving average price is $12.17.

Steelcase (NYSE:SCS - Get Free Report) last issued its earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.06. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company had revenue of $788.00 million during the quarter, compared to analyst estimates of $790.90 million. During the same quarter last year, the business posted $0.23 EPS. The company's revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities research analysts predict that Steelcase Inc. will post 1 EPS for the current fiscal year.

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Steelcase Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Monday, April 7th. Steelcase's dividend payout ratio (DPR) is presently 39.60%.

Insider Activity at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of Steelcase stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value of $58,700.00. Following the completion of the sale, the vice president now owns 114,481 shares of the company's stock, valued at approximately $1,344,006.94. The trade was a 4.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.96% of the stock is currently owned by company insiders.

Institutional Trading of Steelcase

Large investors have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in Steelcase by 203.1% in the 3rd quarter. Barclays PLC now owns 178,002 shares of the business services provider's stock worth $2,402,000 after purchasing an additional 119,268 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Steelcase by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,180,428 shares of the business services provider's stock valued at $29,420,000 after purchasing an additional 22,507 shares during the period. State Street Corp lifted its stake in shares of Steelcase by 1.0% in the third quarter. State Street Corp now owns 2,260,310 shares of the business services provider's stock worth $30,714,000 after buying an additional 22,226 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Steelcase during the 4th quarter worth $379,000. Finally, Fifth Third Bancorp grew its stake in Steelcase by 7.4% in the 4th quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider's stock valued at $42,305,000 after buying an additional 245,981 shares during the last quarter. Institutional investors own 92.42% of the company's stock.

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.