Steelcase (NYSE:SCS) Hits New 52-Week Low – Should You Sell?

Steelcase Inc. (NYSE:SCS)’s stock price reached a new 52-week low on Friday . The stock traded as low as $10.59 and last traded at $10.59, with a volume of 328709 shares changing hands. The stock had previously closed at $10.99.

Steelcase Trading Down 4.0 %

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. The company has a 50 day simple moving average of $11.65 and a two-hundred day simple moving average of $12.43. The company has a market cap of $1.20 billion, a PE ratio of 10.98, a PEG ratio of 1.25 and a beta of 1.33.

Steelcase (NYSE:SCS) last released its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The company had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $796.58 million. During the same quarter in the previous year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts forecast that Steelcase Inc. will post 1 EPS for the current year.

Insider Buying and Selling at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 12.96% of the company’s stock.

Institutional Investors Weigh In On Steelcase

Large investors have recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Steelcase in the 4th quarter valued at approximately $36,000. Virtus Fund Advisers LLC grew its stake in shares of Steelcase by 228.9% in the 4th 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 in the last quarter. Quarry LP grew its stake in shares of 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 buying an additional 5,166 shares in the last quarter. Olympiad Research LP bought a new stake in shares of Steelcase in the 4th quarter valued at approximately $134,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Steelcase in the 4th quarter valued at approximately $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.