Steelcase Inc. (NYSE:SCS - Get Free Report) saw unusually-strong 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.

Analysts Set New Price Targets

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A number of equities analysts have recently issued reports on SCS shares. Weiss Ratings restated 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 report on Tuesday, November 25th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

Get Our Latest Report on SCS

Steelcase Stock Down 0.1%

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The company's 50 day moving average price is $16.28 and its two-hundred day moving average price is $14.35. The company has a current ratio of 1.66, a quick ratio of 1.18 and a debt-to-equity ratio of 0.44. The firm has a market cap of $1.85 billion, a PE ratio of 15.64, a PEG ratio of 1.47 and a beta of 1.26.

Steelcase (NYSE:SCS - Get Free Report) last announced its earnings results on Friday, June 2nd. The business services provider reported $0.23 EPS for the quarter. Steelcase had a return on equity of 13.00% and a net margin of 2.92%.The company had revenue of $724.80 million for the quarter. On average, equities research analysts expect that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

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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 dividend of $0.10 per share. The ex-dividend date was Monday, October 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.5%. Steelcase's payout ratio is 38.83%.

Hedge Funds Weigh In On Steelcase

Several large investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL bought a new position in shares of Steelcase in the third quarter worth approximately $902,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Steelcase during the 3rd quarter valued at $41,000. Harvest Investment Services LLC bought a new position in Steelcase in the 3rd quarter worth $379,000. CANADA LIFE ASSURANCE Co boosted its holdings in Steelcase by 27.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 8,793 shares of the business services provider's stock worth $151,000 after buying an additional 1,870 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in Steelcase in the 3rd quarter worth $349,000. Hedge funds and other institutional investors own 92.42% of the company's stock.

About Steelcase

(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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