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 firm’s stock in a transaction that occurred 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 sale, the vice president now owns 139,912 shares in the company, valued at approximately $1,417,308.56. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Steelcase Trading Down 2.9 %

Steelcase stock traded down $0.30 during trading on Tuesday, reaching $9.93. The company had a trading volume of 836,255 shares, compared to its average volume of 644,176. Steelcase Inc. has a 12-month low of $9.58 and a 12-month high of $14.74. 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 stock’s 50 day moving average price is $11.33 and its two-hundred day moving average price is $12.08. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 1.25 and a beta of 1.12.

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

Steelcase Announces Dividend

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. R Squared Ltd acquired a new position in shares of Steelcase during the 4th quarter valued at $36,000. GAMMA Investing LLC boosted its position in shares of Steelcase by 1,468.7% in the first quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider’s stock worth $63,000 after buying an additional 5,346 shares during the period. Virtus Fund Advisers LLC boosted its position in shares of Steelcase by 228.9% in the fourth quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider’s stock worth $93,000 after buying an additional 5,493 shares during the period. Quarry LP grew its stake in shares of Steelcase by 162.6% in the fourth quarter. Quarry LP now owns 8,344 shares of the business services provider’s stock valued at $99,000 after buying an additional 5,166 shares in the last quarter. Finally, Olympiad Research LP acquired a new position in Steelcase during the 4th quarter worth approximately $134,000. 92.42% of the stock is owned by institutional investors and hedge funds.

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.