Robert G. Krestakos Sells 4,000 Shares of Steelcase Inc. (NYSE:SCS) Stock

Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos sold 4,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $12.61, for a total transaction of $50,440.00. Following the transaction, the vice president now directly owns 108,081 shares in the company, valued at approximately $1,362,901.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Steelcase Stock Up 1.3 %

Shares of NYSE:SCS opened at $12.87 on Thursday. Steelcase Inc. has a 52 week low of $6.39 and a 52 week high of $14.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.12 and a current ratio of 1.54. The company’s fifty day moving average is $12.85 and its 200-day moving average is $12.11. The company has a market capitalization of $1.47 billion, a PE ratio of 18.93, a P/E/G ratio of 1.38 and a beta of 1.35.

Steelcase (NYSE:SCS) last issued its earnings results on Wednesday, March 20th. The business services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. Steelcase had a net margin of 2.57% and a return on equity of 13.00%. The company had revenue of $775.20 million for the quarter, compared to the consensus estimate of $780.25 million. During the same quarter in the previous year, the company earned $0.19 EPS. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities research analysts predict that Steelcase Inc. will post 0.92 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 15th. Investors of record on Wednesday, April 3rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.11%. Steelcase’s dividend payout ratio is 58.82%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Steelcase from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 21st.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SCS. Advisor Group Holdings Inc. raised its holdings in Steelcase by 12.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 36,070 shares of the business services provider’s stock worth $431,000 after purchasing an additional 3,999 shares during the last quarter. HighTower Advisors LLC raised its holdings in Steelcase by 32.8% during the 1st quarter. HighTower Advisors LLC now owns 14,724 shares of the business services provider’s stock worth $177,000 after purchasing an additional 3,635 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Steelcase by 47.3% in the 1st quarter. Natixis Advisors L.P. now owns 29,323 shares of the business services provider’s stock valued at $350,000 after acquiring an additional 9,422 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Steelcase by 51.8% in the 1st quarter. MetLife Investment Management LLC now owns 45,862 shares of the business services provider’s stock valued at $548,000 after acquiring an additional 15,650 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Steelcase by 3.6% in the 1st quarter. BlackRock Inc. now owns 7,932,474 shares of the business services provider’s stock valued at $94,794,000 after acquiring an additional 277,505 shares during the last quarter. 92.42% of the stock is owned by institutional investors.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products in the United States and internationally. It operates through Americas, EMEA, and Other 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, and mobile power and screens.