Steelcase (NYSE:SCS) Sets New 1-Year Low – Here’s What Happened

Steelcase Inc. (NYSE:SCS) shares hit a new 52-week low on Friday . The company 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 Price Performance

The stock has a fifty day simple moving average of $11.66 and a two-hundred day simple moving average of $12.47. The company has a market cap of $1.21 billion, a PE ratio of 11.12, 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.

Steelcase (NYSE:SCS) last announced its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $796.58 million. During the same quarter in the previous year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts predict that Steelcase Inc. will post 1 EPS for the current fiscal year.

Insider Activity

In other news, VP Robert G. Krestakos sold 5,000 shares of Steelcase 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 sale, the vice president now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SCS. Quest Partners LLC raised its position in shares of Steelcase by 399.0% during the 3rd quarter. Quest Partners LLC now owns 30,247 shares of the business services provider’s stock worth $408,000 after purchasing an additional 24,186 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Steelcase during the 3rd quarter worth approximately $2,273,000. Intech Investment Management LLC acquired a new position in shares of Steelcase during the 3rd quarter worth approximately $347,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Steelcase during the 3rd quarter worth approximately $602,000. Finally, FMR LLC raised its position in shares of Steelcase by 3,862.6% during the 3rd quarter. FMR LLC now owns 101,523 shares of the business services provider’s stock worth $1,370,000 after purchasing an additional 98,961 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

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.