Steelcase Inc. (NYSE:SCS) Short Interest Update

Steelcase Inc. (NYSE:SCS) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 1,220,000 shares, a growth of 28.0% from the January 31st total of 953,400 shares. Based on an average daily volume of 594,900 shares, the short-interest ratio is presently 2.1 days. Approximately 1.4% of the company’s stock are short sold.

Insiders Place Their Bets

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total value of $58,700.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Barclays PLC raised its stake in Steelcase by 203.1% in the 3rd quarter. Barclays PLC now owns 178,002 shares of the business services provider’s stock valued at $2,402,000 after acquiring an additional 119,268 shares during the period. Geode Capital Management LLC increased its stake in shares of Steelcase by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,180,428 shares of the business services provider’s stock worth $29,420,000 after purchasing an additional 22,507 shares in the last quarter. State Street Corp raised its position in shares of Steelcase by 1.0% in the third quarter. State Street Corp now owns 2,260,310 shares of the business services provider’s stock valued at $30,714,000 after purchasing an additional 22,226 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Steelcase during the 4th quarter valued at approximately $379,000. Finally, BNP Paribas Financial Markets boosted its holdings in Steelcase by 322.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider’s stock worth $7,720,000 after buying an additional 436,754 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Steelcase Price Performance

Shares of NYSE:SCS opened at $11.64 on Wednesday. The company has a market capitalization of $1.32 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.25 and a beta of 1.35. The company’s 50-day moving average is $11.76 and its 200 day moving average is $12.66. 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 has a fifty-two week low of $10.90 and a fifty-two week high of $14.74.

Steelcase (NYSE:SCS) last released its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Steelcase will post 1 earnings per share for the current year.

Steelcase Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.44%. Steelcase’s payout ratio is presently 41.67%.

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.