Steelcase Inc. (NYSE:SCS) VP Sells $50,440.00 in Stock

Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos sold 4,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $12.61, for a total value of $50,440.00. Following the completion of the transaction, the vice president now owns 108,081 shares in the company, valued at $1,362,901.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Steelcase Price Performance

Shares of NYSE:SCS opened at $12.87 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.51. The stock’s fifty day simple moving average is $12.85 and its two-hundred day simple moving average is $12.11. Steelcase Inc. has a 1-year low of $6.39 and a 1-year high of $14.54. The stock has a market cap of $1.47 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.38 and a beta of 1.35.

Steelcase (NYSE:SCS) last issued its quarterly earnings data on Wednesday, March 20th. The business services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. Steelcase had a return on equity of 13.00% and a net margin of 2.57%. The business had revenue of $775.20 million for the quarter, compared to analysts’ expectations of $780.25 million. During the same period last year, the business earned $0.19 EPS. The business’s revenue was down 3.3% on a year-over-year basis. As a group, analysts forecast that Steelcase Inc. will post 0.92 EPS for the current fiscal year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.11%. The ex-dividend date is Tuesday, April 2nd. Steelcase’s dividend payout ratio (DPR) is presently 58.82%.

Hedge Funds Weigh In On Steelcase

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

Analyst Upgrades and Downgrades

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

About Steelcase

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.