Steelcase (NYSE:SCS) Sees Unusually-High Trading Volume – Should You Buy?

by · The Cerbat Gem

Shares of Steelcase Inc. (NYSE:SCS – Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 4,114,343 shares traded hands during trading, an increase of 209% from the previous session’s volume of 1,330,347 shares.The stock last traded at $16.11 and had previously closed at $16.12.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SCS shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steelcase in a research note on Friday, October 31st. Zacks Research downgraded Steelcase from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Get Our Latest Stock Analysis on SCS

Steelcase Stock Down 0.1%

The company has a market cap of $1.85 billion, a P/E ratio of 15.64, a PEG ratio of 1.47 and a beta of 1.26. The stock has a 50-day moving average of $16.23 and a 200 day moving average of $14.38. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.18.

Steelcase (NYSE:SCS – Get Free Report) last posted its quarterly earnings data on Friday, June 2nd. The business services provider reported $0.23 earnings per share for the quarter. The business had revenue of $724.80 million during the quarter. Steelcase had a net margin of 2.92% and a return on equity of 13.00%. Research analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Monday, October 6th were given a dividend of $0.10 per share. The ex-dividend date was Monday, October 6th. This represents a $0.40 annualized dividend and a dividend yield of 2.5%. Steelcase’s dividend payout ratio (DPR) is currently 38.83%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SCS. Vanguard Group Inc. boosted its holdings in shares of Steelcase by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 10,406,316 shares of the business services provider’s stock valued at $114,053,000 after purchasing an additional 65,179 shares in the last quarter. Fifth Third Bancorp boosted its stake in Steelcase by 152.4% in the third quarter. Fifth Third Bancorp now owns 9,668,677 shares of the business services provider’s stock valued at $166,301,000 after buying an additional 5,837,343 shares in the last quarter. Pzena Investment Management LLC boosted its stake in Steelcase by 7.3% in the second quarter. Pzena Investment Management LLC now owns 5,754,832 shares of the business services provider’s stock valued at $60,023,000 after buying an additional 389,912 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Steelcase by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 5,619,726 shares of the business services provider’s stock valued at $96,659,000 after acquiring an additional 14,965 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new position in Steelcase during the third quarter worth about $59,390,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Steelcase Company Profile

(Get Free Report)

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.

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