Steelcase (NYSE:SCS) Sets New 52-Week Low – What’s Next?

Steelcase Inc. (NYSE:SCS) hit a new 52-week low on Thursday . The company traded as low as $10.30 and last traded at $10.62, with a volume of 1130404 shares. The stock had previously closed at $10.58.

Steelcase Trading Up 0.3 %

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 company has a market capitalization of $1.21 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. The firm has a fifty day moving average price of $11.61 and a 200-day moving average price of $12.37.

Steelcase (NYSE:SCS) last announced its quarterly earnings data 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. The firm had revenue of $788.00 million during the quarter, compared to the consensus estimate of $790.90 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. On average, equities research analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current year.

Insider Buying and Selling

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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Steelcase

A number of hedge funds have recently modified their holdings of the stock. R Squared Ltd bought a new position in Steelcase during the fourth quarter valued at $36,000. Virtus Fund Advisers LLC raised its stake in shares of 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 buying an additional 5,493 shares during the period. Quarry LP lifted its position in shares of Steelcase by 162.6% during the 4th quarter. Quarry LP now owns 8,344 shares of the business services provider’s stock valued at $99,000 after buying an additional 5,166 shares during the last quarter. Olympiad Research LP bought a new position in shares of Steelcase during the 4th quarter worth $134,000. Finally, Boothbay Fund Management LLC purchased a new stake in Steelcase in the 4th quarter worth about $135,000. 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.