Steelcase (NYSE:SCS) Reaches New 1-Year Low - Should You Sell?

Steelcase Inc. (NYSE:SCS - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $10.30 and last traded at $10.62, with a volume of 1130404 shares trading hands. The stock had previously closed at $10.58.

Steelcase Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. The stock's 50 day moving average price is $11.58 and its two-hundred day moving average price is $12.32. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.25 and a beta of 1.33.

Steelcase (NYSE:SCS - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. The firm had revenue of $788.00 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. On average, equities research analysts anticipate that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $0.40 annualized dividend and a yield of 3.65%. Steelcase's payout ratio is 39.60%.

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Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 5,000 shares of the firm's 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 12.96% of the company's stock.

Hedge Funds Weigh In On Steelcase

Large investors have recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Steelcase during the 4th quarter worth about $36,000. Virtus Fund Advisers LLC increased its stake in Steelcase by 228.9% during the fourth quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider's stock valued at $93,000 after acquiring an additional 5,493 shares during the period. Quarry LP raised its holdings in Steelcase by 162.6% in the 4th quarter. Quarry LP now owns 8,344 shares of the business services provider's stock valued at $99,000 after acquiring an additional 5,166 shares in the last quarter. Olympiad Research LP bought a new stake in shares of Steelcase in the 4th quarter worth approximately $134,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Steelcase during the 4th quarter worth approximately $135,000. 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.