Steelcase (NYSE:SCS) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Steelcase Inc. (NYSE:SCS)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.62 and traded as high as $16.25. Steelcase shares last traded at $16.11, with a volume of 4,114,343 shares traded.

Wall Street Analysts Forecast Growth

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

Steelcase Price Performance

The firm has a market capitalization of $1.85 billion, a PE ratio of 15.64, a P/E/G ratio of 1.47 and a beta of 1.26. The firm’s fifty day moving average price is $16.15 and its 200 day moving average price is $14.65. The company has a current ratio of 1.66, a quick ratio of 1.18 and a debt-to-equity ratio of 0.44.

Steelcase (NYSE:SCS) last posted its earnings results on Friday, June 2nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter. The company 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%. As a group, equities analysts forecast that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

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

Institutional Investors Weigh In On Steelcase

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in shares of Steelcase by 152.4% during the 3rd quarter. Fifth Third Bancorp now owns 9,668,677 shares of the business services provider’s stock valued at $166,301,000 after purchasing an additional 5,837,343 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Steelcase during the third quarter valued at $59,390,000. JPMorgan Chase & Co. increased its holdings in Steelcase by 201.5% in the third quarter. JPMorgan Chase & Co. now owns 2,630,255 shares of the business services provider’s stock valued at $45,240,000 after buying an additional 1,757,767 shares in the last quarter. Citigroup Inc. raised its position in shares of Steelcase by 3,309.6% in the third quarter. Citigroup Inc. now owns 1,649,892 shares of the business services provider’s stock worth $28,378,000 after acquiring an additional 1,601,503 shares during the period. Finally, AQR Arbitrage LLC acquired a new position in shares of Steelcase in the third quarter worth about $23,885,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

About Steelcase

Steelcase, Inc is a global leader in the design and manufacture of workspace furniture and architectural solutions. The company develops a wide range of products including adjustable desks, ergonomic seating, collaborative furniture, movable walls, and integrated technology offerings aimed at enhancing productivity and well-being in office, education, and healthcare environments. Steelcase combines research on human behavior, work patterns, and technology trends to inform the development of its solutions, positioning itself as a partner for organizations seeking to optimize their physical spaces.

Through its portfolio of brands—such as Steelcase, Coalesse, and Steelcase Education—the company addresses the needs of corporate clients, learning institutions, and healthcare providers.