Steelcase Inc. (SCS) To Go Ex-Dividend on December 30th

Steelcase Inc. (NYSE:SCS) announced a quarterly dividend on Wednesday, December 18th,Wall Street Journal reports. Shareholders of record on Monday, December 30th will be given a dividend of 0.10 per share by the business services provider on Monday, January 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Monday, December 30th.

Steelcase has decreased its dividend by an average of 6.8% per year over the last three years. Steelcase has a payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Steelcase to earn $1.15 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 34.8%.

Steelcase Stock Down 1.1 %

SCS opened at $12.32 on Friday. The stock’s fifty day moving average is $13.03 and its 200-day moving average is $13.16. The company has a market capitalization of $1.40 billion, a PE ratio of 11.62, a P/E/G ratio of 1.29 and a beta of 1.35. Steelcase has a one year low of $11.50 and a one year high of $14.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.23 and a current ratio of 1.62.

Steelcase (NYSE:SCS) last announced its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.07. Steelcase had a net margin of 4.02% and a return on equity of 14.41%. The company had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $796.58 million. During the same quarter in the previous year, the company posted $0.30 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts predict that Steelcase will post 1 EPS for the current fiscal year.

Insider Buying and Selling at Steelcase

In other news, VP Robert G. Krestakos sold 4,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $13.11, for a total transaction of $52,440.00. Following the transaction, the vice president now owns 119,481 shares in the company, valued at $1,566,395.91. This represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.96% of the company’s stock.

Analyst Ratings Changes

Separately, Noble Financial assumed coverage on Steelcase in a report on Wednesday, October 9th. They set an “outperform” rating and a $16.00 price objective on the 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.