Insider Selling: Steelcase Inc. (NYSE:SCS) VP Sells 5,000 Shares of Stock

Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value 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. The trade was a 4.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Steelcase Stock Performance

NYSE SCS opened at $11.58 on Friday. The company’s fifty day moving average is $12.41 and its two-hundred day moving average is $12.94. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.16 and a beta of 1.36. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. Steelcase Inc. has a 52-week low of $10.90 and a 52-week high of $14.74.

Steelcase (NYSE:SCS) last issued its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm had revenue of $794.90 million for the quarter, compared to analyst estimates of $796.58 million. During the same period in the previous year, the company posted $0.30 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts forecast that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.40 annualized dividend and a yield of 3.46%. Steelcase’s dividend payout ratio (DPR) is currently 41.67%.

Analyst Upgrades and Downgrades

Separately, Noble Financial initiated coverage on Steelcase in a report on Wednesday, October 9th. They set an “outperform” rating and a $16.00 price target for the company.

Institutional Investors Weigh In On Steelcase

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Steelcase during the 3rd quarter valued at about $6,167,000. BNP Paribas Financial Markets lifted its stake in Steelcase by 322.3% during the third quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider’s stock worth $7,720,000 after purchasing an additional 436,754 shares during the period. Fifth Third Bancorp boosted its holdings in Steelcase by 7.4% during the fourth quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider’s stock valued at $42,305,000 after purchasing an additional 245,981 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Steelcase by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,297,183 shares of the business services provider’s stock valued at $68,652,000 after purchasing an additional 215,729 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Steelcase by 70.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 448,530 shares of the business services provider’s stock worth $6,051,000 after buying an additional 185,630 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

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.