Steelcase (NYSE:SCS) Hits New 52-Week Low - Time to Sell?

Steelcase Inc. (NYSE:SCS - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $10.78 and last traded at $10.82, with a volume of 919961 shares changing hands. The stock had previously closed at $11.08.

Steelcase Trading Up 0.2 %

The firm has a market cap of $1.25 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. 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 company's fifty day moving average price is $11.69 and its two-hundred day moving average price is $12.53.

Steelcase (NYSE:SCS - Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.30 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 analyst estimates of $796.58 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 earnings per share. As a group, sell-side analysts predict that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.40 dividend on an annualized basis and a yield of 3.63%. Steelcase's dividend payout ratio is 41.67%.

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Insiders Place Their Bets

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $1,344,006.94. This trade represents a 4.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 12.96% of the company's stock.

Hedge Funds Weigh In On Steelcase

Large investors have recently modified their holdings of the stock. Barclays PLC lifted its holdings in Steelcase by 203.1% during the 3rd quarter. Barclays PLC now owns 178,002 shares of the business services provider's stock worth $2,402,000 after buying an additional 119,268 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Steelcase by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,180,428 shares of the business services provider's stock worth $29,420,000 after acquiring an additional 22,507 shares during the last quarter. State Street Corp lifted its stake in shares of Steelcase by 1.0% during the third quarter. State Street Corp now owns 2,260,310 shares of the business services provider's stock valued at $30,714,000 after acquiring an additional 22,226 shares during the period. SG Americas Securities LLC bought a new position in Steelcase in the fourth quarter valued at about $379,000. Finally, BNP Paribas Financial Markets increased its position in 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 purchasing an additional 436,754 shares during the period. 92.42% of the stock is currently owned by institutional investors and hedge funds.

About Steelcase

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.