Steelcase Inc. (NYSE:SCS) Short Interest Update

Steelcase Inc. (NYSE:SCS) saw a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 1,220,000 shares, an increase of 28.0% from the January 31st total of 953,400 shares. Currently, 1.4% of the shares of the company are short sold. Based on an average trading volume of 594,900 shares, the days-to-cover ratio is currently 2.1 days.

Insider Buying and Selling at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total value of $58,700.00. Following the transaction, the vice president now owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This represents a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its stake in shares of Steelcase by 203.1% in the third quarter. Barclays PLC now owns 178,002 shares of the business services provider’s stock worth $2,402,000 after buying an additional 119,268 shares during the period. Geode Capital Management LLC raised its stake in Steelcase by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,180,428 shares of the business services provider’s stock valued at $29,420,000 after purchasing an additional 22,507 shares during the period. State Street Corp raised its stake in Steelcase by 1.0% during the 3rd quarter. State Street Corp now owns 2,260,310 shares of the business services provider’s stock valued at $30,714,000 after purchasing an additional 22,226 shares during the period. SG Americas Securities LLC bought a new stake in Steelcase during the 4th quarter valued at approximately $379,000. Finally, BNP Paribas Financial Markets raised its stake in Steelcase by 322.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider’s stock valued at $7,720,000 after purchasing an additional 436,754 shares during the period. Institutional investors own 92.42% of the company’s stock.

Steelcase Stock Up 1.0 %

SCS stock opened at $11.55 on Friday. Steelcase has a fifty-two week low of $10.90 and a fifty-two week high of $14.74. The business’s 50-day moving average is $11.76 and its two-hundred day moving average is $12.65. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.25 and a beta of 1.35.

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

Steelcase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Monday, December 30th. Steelcase’s dividend payout ratio (DPR) is currently 41.67%.

About Steelcase

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.