Steelcase (NYSE:SCS) Reaches New 12-Month Low - Should You Sell?

Steelcase Inc. (NYSE:SCS - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $9.58 and last traded at $10.62, with a volume of 1193354 shares traded. The stock had previously closed at $9.74.

Wall Street Analyst Weigh In

Separately, Sidoti upgraded shares of Steelcase to a "hold" rating in a research note on Friday, March 28th.

Steelcase Stock Performance

The firm has a 50-day moving average of $11.33 and a 200-day moving average of $12.08. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 1.25 and a beta of 1.12. 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company had revenue of $788.00 million for the quarter, compared to analyst estimates of $790.90 million. During the same period in the prior year, the company earned $0.23 earnings per share. The firm's revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts predict that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Monday, April 7th. Steelcase's payout ratio is currently 39.60%.

Insider Buying and Selling at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the firm's stock in a transaction 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Steelcase

A number of hedge funds have recently modified their holdings of SCS. Diversified Trust Co raised its position in shares of Steelcase by 2.9% during the 4th quarter. Diversified Trust Co now owns 31,801 shares of the business services provider's stock valued at $376,000 after buying an additional 886 shares during the period. Rhumbline Advisers increased its stake in Steelcase by 0.6% during the fourth quarter. Rhumbline Advisers now owns 155,013 shares of the business services provider's stock worth $1,832,000 after acquiring an additional 932 shares during the last quarter. MetLife Investment Management LLC raised its position in Steelcase by 2.0% in the fourth quarter. MetLife Investment Management LLC now owns 54,643 shares of the business services provider's stock valued at $646,000 after purchasing an additional 1,079 shares during the period. Hillsdale Investment Management Inc. grew its holdings in shares of Steelcase by 0.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 284,800 shares of the business services provider's stock worth $3,366,000 after purchasing an additional 1,500 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Steelcase by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,596 shares of the business services provider's stock worth $622,000 after purchasing an additional 1,741 shares during the last quarter. 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.