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What should you know before buying stock in Steelcase, Inc. (SCS)

Steelcase, Inc. (NYSE: SCS) is -3.25% lower on its value in year-to-date trading and has touched a low of $6.39 and a high of $14.54 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SCS stock was last observed hovering at around $12.87 in the last trading session, with the day’s gains setting it 0.21%.

Currently trading at $13.08, the stock is 1.89% and 1.91% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.37 million and changing 1.63% at the moment leaves the stock 20.36% off its SMA200. SCS registered 52.27% gain for a year compared to 6-month gain of 16.27%. The firm has a 50-day simple moving average (SMA 50) of $0.59 and a 200-day simple moving average (SMA200) of $8.58.

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The stock witnessed a 0.15% loss in the last 1 month and extending the period to 3 months gives it a -4.66%, and is 6.34% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.02% over the week and 3.07% over the month.

Steelcase, Inc. (SCS) has around 11900 employees, a market worth around $1.49B and $3.16B in sales. Current P/E ratio is 19.27 and Fwd P/E is 12.25. Profit margin for the company is 2.49%. Distance from 52-week low is 104.69% and -10.04% from its 52-week high. The company has generated returns on investments over the last 12 months (5.35%).

Steelcase, Inc. quarterly earnings per share for the current quarter are estimated at $0.1 with sales reaching $728.97M over the same period.The EPS is expected to shrink by -2.15% this year, but quarterly earnings will post 3.10% year-over-year.

Steelcase, Inc. (SCS) Top Institutional Holders

313 institutions hold shares in Steelcase, Inc. (SCS), with institutional investors hold 107.18% of the company’s shares. The shares outstanding are 92.57M, and float is at 84.73M with Short Float at 3.73%. Institutions hold 94.52% of the Float.

The top institutional shareholder in the company is Pzena Investment Management Llc with over 9.93 million shares valued at $76.53 million. The investor’s holdings represent 10.60% of the SCS Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 9.15 million shares valued at $70.57 million to account for 9.77% of the shares outstanding. The other top investors are Blackrock Inc. which holds 8.35 million shares representing 8.92% and valued at over $64.39 million, while Fifth Third Bancorp holds 5.55% of the shares totaling 5.19 million with a market value of $40.05 million.

Steelcase, Inc. (SCS) Insider Activity

The most recent transaction is an insider sale by Krestakos Robert G,the company’sVP, Chief Operations Officer. SEC filings show that Krestakos Robert G sold 4,000 shares of the company’s common stock on Mar 25 ’24 at a price of $12.61 per share for a total of $50453.0. Following the sale, the insider now owns 0.11 million shares.

Steelcase, Inc. disclosed in a document filed with the SEC on Dec 27 ’23 that McGrath Nicole Cherie (VP, Corp Controller and CAO) sold a total of 1,792 shares of the company’s common stock. The trade occurred on Dec 27 ’23 and was made at $13.95 per share for $24998.0. Following the transaction, the insider now directly holds 33899.0 shares of the SCS stock.

Still, SEC filings show that on Dec 26 ’23, Krestakos Robert G (VP, Global Operations) disposed off 3,800 shares at an average price of $13.83 for $52560.0. The insider now directly holds 110,489 shares of Steelcase, Inc. (SCS).

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