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

Steelcase Inc. (NYSE:SCS)’s share price hit a new 52-week low on Thursday . The stock traded as low as $10.78 and last traded at $10.82, with a volume of 919961 shares. The stock had previously closed at $11.08.

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 has a market capitalization of $1.25 billion, a P/E ratio of 11.43, a PEG ratio of 1.25 and a beta of 1.33. The company’s 50 day simple moving average is $11.69 and its two-hundred day simple moving average is $12.55.

Steelcase (NYSE:SCS) last issued its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate 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 3.63% and a return on equity of 14.20%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. As a group, equities analysts expect that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.40 annualized dividend and a yield of 3.64%. Steelcase’s dividend payout ratio is 41.67%.

Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total transaction of $58,700.00. Following the sale, the vice president now directly owns 114,481 shares of the company’s stock, valued at $1,344,006.94. This represents a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 12.96% of the company’s stock.

Institutional Trading of Steelcase

Several hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp grew its stake in shares of Steelcase by 92.3% during the fourth 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. PharVision Advisers LLC bought a new stake in shares of Steelcase during the fourth quarter valued at approximately $386,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Steelcase by 8.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 170,830 shares of the business services provider’s stock valued at $2,019,000 after acquiring an additional 13,428 shares during the last quarter. Virtus Fund Advisers LLC boosted its stake in Steelcase by 228.9% in 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 last quarter. Finally, Virtus Investment Advisers Inc. boosted its stake in Steelcase by 35.2% in the fourth quarter. Virtus Investment Advisers Inc. now owns 100,856 shares of the business services provider’s stock valued at $1,192,000 after acquiring an additional 26,256 shares during the last quarter. 92.42% of the stock is owned by institutional investors.

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.