Steelcase Inc. (SCS) is Trading Lower on Unusual Volume for December 22

Equities Staff |

Steelcase Inc. (SCS) experienced unusually high volume on Dec. 22, as the stock lost 22.58% to a closing price of $14.62. The stock saw 6.72 million shares trade hands over the course of the day on 40,991 trades. Given that the stock’s average daily volume over the last month has been 473,963 shares a day, this represents a pretty substantial spike over the norm.

Steelcase Inc. has a P/B ratio of 2.59. It also has a P/E ratio of 25.9. The stock has traded between $20.45 and $16.06 over the last 52-weeks, its 50-day SMA is now $19.41, and its 200-day SMA $18.41.

Steelcase Inc is engaged in in furnishing the work experience in business, education and healthcare environments. Its brands include Steelcase, Coalesse, Details, Designtex, PolyVision and Turnstone.

Headquartered in Grand Rapids, MI, Steelcase Inc. has 12,400 employees and is currently under the leadership of CEO James P. Keane.

For a complete fundamental analysis analysis of Steelcase Inc., check out Equities.com’s Stock Valuation Analysis report for SCS. To see the latest independent stock recommendations from Equities.com’s analysts, visit our Research section.

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The Russell 3000 is not well known outside the world of finance, but it’s one of the strongest indices out there for getting a broad sense of the stock market. Unlike the better-known Dow Jones Industrial Average or S&P 500, membership on the Russell 3000 isn’t selected by committee. It’s simply the 3,000 most valuable companies in the country.

With 3,000 stocks making up the index, it gives a broad look at the markets, including the small-and mid-cap companies that aren’t on the Dow or the S&P 500. And with a rules-based system for determining membership, there’s no bias that could potentially limit membership. That’s why many financial professionals will turn to the Russell 3000 long before the better-known indices when trying to take the temperature of the market.

For more news on the financial markets, go to Equities.com. Also, learn more about our independent proprietary equity research reports and our robust do-it-yourself Stock Valuation Analysis reports in our Research section.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

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