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 stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $10.13, for a total transaction of $60,780.00. Following the completion of the sale, the vice president now owns 139,912 shares of the company’s stock, valued at approximately $1,417,308.56. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Steelcase Stock Down 2.9 %

Steelcase stock opened at $9.93 on Wednesday. The company has a market capitalization of $1.13 billion, a P/E ratio of 10.35, 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 fifty-two week low of $9.58 and a fifty-two week high of $14.74. The stock has a 50-day simple moving average of $11.30 and a 200-day simple moving average of $12.06.

Steelcase (NYSE:SCS) last announced its earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.06. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The company had revenue of $788.00 million for the quarter, compared to the consensus estimate of $790.90 million. During the same period last year, the business posted $0.23 EPS. The company’s revenue was up 1.7% on a year-over-year basis. Equities research analysts expect that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Announces Dividend

The company also recently announced 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 4.03%. The ex-dividend date of this dividend is Monday, April 7th. Steelcase’s dividend payout ratio (DPR) is 39.60%.

Institutional Trading of Steelcase

Several institutional investors and hedge funds have recently modified their holdings of SCS. Diversified Trust Co increased its position in Steelcase by 2.9% during the 4th quarter. Diversified Trust Co now owns 31,801 shares of the business services provider’s stock worth $376,000 after purchasing an additional 886 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Steelcase by 0.6% during the fourth quarter. Rhumbline Advisers now owns 155,013 shares of the business services provider’s stock worth $1,832,000 after buying an additional 932 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Steelcase by 2.0% in the fourth quarter. MetLife Investment Management LLC now owns 54,643 shares of the business services provider’s stock valued at $646,000 after buying an additional 1,079 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in shares of Steelcase by 0.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 284,800 shares of the business services provider’s stock valued at $3,366,000 after buying an additional 1,500 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Steelcase by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,596 shares of the business services provider’s stock valued at $622,000 after buying an additional 1,741 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.