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 dated 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 transaction, the vice president now directly owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. The trade was 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.

Steelcase Stock Down 0.1 %

NYSE SCS traded down $0.01 during trading hours on Thursday, reaching $11.57. 178,340 shares of the company traded hands, compared to its average volume of 533,030. The stock has a market capitalization of $1.32 billion, a PE ratio of 12.09, a PEG ratio of 1.19 and a beta of 1.36. The company has a 50 day moving average of $12.44 and a two-hundred day moving average of $12.95. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a 12 month low of $10.90 and a 12 month high of $14.74.

Steelcase (NYSE:SCS) last announced its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $796.58 million. During the same period in the previous year, the company earned $0.30 earnings per share. Steelcase’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts expect that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Announces Dividend

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

Hedge Funds Weigh In On Steelcase

Hedge funds have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Steelcase in the 3rd quarter worth about $6,167,000. BNP Paribas Financial Markets boosted its stake in Steelcase by 322.3% in the third quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider’s stock valued at $7,720,000 after acquiring an additional 436,754 shares during the period. Fifth Third Bancorp grew its holdings in shares of Steelcase by 7.4% during the fourth quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider’s stock valued at $42,305,000 after purchasing an additional 245,981 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Steelcase by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,297,183 shares of the business services provider’s stock worth $68,652,000 after purchasing an additional 215,729 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Steelcase by 70.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 448,530 shares of the business services provider’s stock worth $6,051,000 after purchasing an additional 185,630 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.