Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos Sells 5,000 Shares

Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the sale, the vice president now owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This represents a 4.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Steelcase Stock Performance

Shares of SCS opened at $11.55 on Friday. The company has a 50-day simple moving average of $12.37 and a 200-day simple moving average of $12.94. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $1.31 billion, a PE ratio of 12.03, a P/E/G ratio of 1.16 and a beta of 1.36. Steelcase Inc. has a 52-week low of $10.90 and a 52-week high of $14.74.

Steelcase (NYSE:SCS) last posted its earnings results 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 net margin of 3.63% and a return on equity of 14.20%. The firm had revenue of $794.90 million during the quarter, compared to the consensus estimate of $796.58 million. During the same period last year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts predict that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Steelcase

Several hedge funds have recently modified their holdings of the stock. Jennison Associates LLC acquired a new stake in shares of Steelcase in the fourth quarter worth approximately $797,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Steelcase by 1.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 456,720 shares of the business services provider’s stock worth $5,398,000 after purchasing an additional 8,190 shares in the last quarter. R Squared Ltd acquired a new position in shares of Steelcase during the fourth quarter worth $36,000. Fifth Third Bancorp increased its stake in shares of Steelcase by 7.4% in the fourth quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider’s stock worth $42,305,000 after buying an additional 245,981 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Steelcase in the fourth quarter worth $379,000. 92.42% of the stock is owned by institutional investors and hedge funds.

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.