Steelcase Inc. (NYSE:SCS) VP Sells $60,780.00 in Stock

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

Steelcase Price Performance

SCS stock opened at $9.77 on Friday. The stock’s 50 day moving average price is $11.22 and its 200 day moving average price is $12.02. The firm has a market cap of $1.11 billion, a P/E ratio of 10.17, a PEG ratio of 1.25 and a beta of 1.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. Steelcase Inc. has a 1 year low of $9.58 and a 1 year high of $14.74.

Steelcase (NYSE:SCS) last posted 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. The firm had revenue of $788.00 million during the quarter, compared to analysts’ expectations of $790.90 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. On average, sell-side 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. Shareholders of record on Monday, April 7th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Monday, April 7th. Steelcase’s dividend payout ratio (DPR) is 39.60%.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

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

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.