Steelcase Inc. (NYSE:SCS) VP Sells $58,700.00 in Stock

Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total transaction of $58,700.00. Following the completion of the sale, the vice president now owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This trade represents a 4.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Steelcase Trading Down 0.5 %

NYSE:SCS opened at $11.55 on Friday. Steelcase Inc. has a 12-month low of $10.90 and a 12-month high of $14.74. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. The stock’s 50 day simple moving average is $12.37 and its 200-day simple moving average is $12.94. The firm has a market cap of $1.31 billion, a P/E ratio of 12.03, a PEG ratio of 1.16 and a beta of 1.36.

Steelcase (NYSE:SCS) last announced its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $794.90 million during the quarter, compared to the consensus estimate of $796.58 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. Steelcase’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. Equities analysts anticipate that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Monday, December 30th. Steelcase’s payout ratio is 41.67%.

Institutional Trading of Steelcase

Several hedge funds have recently modified their holdings of SCS. Diversified Trust Co raised its position in Steelcase by 2.9% in the fourth quarter. Diversified Trust Co now owns 31,801 shares of the business services provider’s stock worth $376,000 after acquiring an additional 886 shares in the last quarter. Creative Planning increased its holdings in shares of Steelcase by 8.7% in the 3rd quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock valued at $182,000 after purchasing an additional 1,075 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Steelcase by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 48,292 shares of the business services provider’s stock valued at $626,000 after purchasing an additional 1,426 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Steelcase by 4.0% during the third quarter. Harbor Capital Advisors Inc. now owns 40,938 shares of the business services provider’s stock worth $552,000 after buying an additional 1,561 shares in the last quarter. Finally, Arjuna Capital grew its position in Steelcase by 1.1% during the third quarter. Arjuna Capital now owns 152,400 shares of the business services provider’s stock worth $2,056,000 after buying an additional 1,674 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Noble Financial initiated coverage on shares of Steelcase in a report on Wednesday, October 9th. They issued an “outperform” rating and a $16.00 target price for the company.

Steelcase Company Profile

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.