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

Steelcase Inc. (NYSE:SCS) shares passed 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 changing hands.

Wall Street Analyst Weigh In

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

Steelcase Trading 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 firm’s 50 day moving average is $16.15 and its two-hundred day moving average is $14.62. The company has a quick ratio of 1.18, a current ratio of 1.66 and a debt-to-equity ratio of 0.44.

Steelcase (NYSE:SCS) last announced its earnings results on Friday, June 2nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter. Steelcase had a return on equity of 13.00% and a net margin of 2.92%.The business had revenue of $724.80 million during the quarter. As a group, equities research analysts anticipate that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Monday, October 6th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, October 6th. Steelcase’s payout ratio is currently 38.83%.

Institutional Inflows and Outflows

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