Insider Selling: Steelcase Inc. (NYSE:SCS) VP Sells 6,000 Shares of Stock

Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos sold 6,000 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $10.13, for a total transaction of $60,780.00. Following the completion of the transaction, the vice president now owns 139,912 shares in the company, valued at $1,417,308.56. This represents a 4.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Steelcase Stock Down 2.9 %

NYSE SCS traded down $0.30 on Tuesday, hitting $9.93. 836,255 shares of the stock traded hands, compared to its average volume of 644,176. 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 has a 50-day moving average of $11.33 and a 200 day moving average of $12.08. Steelcase Inc. has a twelve month low of $9.58 and a twelve month high of $14.74. The company has a market capitalization of $1.13 billion, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 1.25 and a beta of 1.12.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The business had revenue of $788.00 million for the quarter, compared to analyst estimates of $790.90 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. As a group, analysts expect that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Monday, April 7th. Steelcase’s dividend payout ratio (DPR) is presently 39.60%.

Wall Street Analysts Forecast Growth

Separately, Sidoti upgraded Steelcase to a “hold” rating in a report on Friday, March 28th.

Institutional Investors Weigh In On Steelcase

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of Steelcase by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,425,529 shares of the business services provider’s stock valued at $64,129,000 after purchasing an additional 47,748 shares during the last quarter. Pzena Investment Management LLC grew its stake in Steelcase by 2.6% during the 4th quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider’s stock worth $63,513,000 after buying an additional 133,893 shares during the last quarter. Fifth Third Bancorp increased its position in Steelcase by 6.2% in the first quarter. Fifth Third Bancorp now owns 3,802,658 shares of the business services provider’s stock worth $41,677,000 after buying an additional 223,541 shares during the period. American Century Companies Inc. lifted its stake in Steelcase by 10.0% in the fourth quarter. American Century Companies Inc. now owns 3,024,828 shares of the business services provider’s stock valued at $35,753,000 after buying an additional 275,369 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Steelcase by 1.0% during the third quarter. State Street Corp now owns 2,260,310 shares of the business services provider’s stock valued at $30,714,000 after acquiring an additional 22,226 shares during the period. Institutional investors own 92.42% of the company’s stock.

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.