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 firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $12.61, for a total transaction of $50,440.00. Following the completion of the transaction, the vice president now directly owns 108,081 shares of the company’s stock, valued at approximately $1,362,901.41. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Steelcase Trading Up 1.6 %

Shares of NYSE:SCS opened at $13.08 on Friday. The firm has a fifty day moving average of $12.87 and a two-hundred day moving average of $12.12. The firm has a market capitalization of $1.49 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 1.40 and a beta of 1.35. Steelcase Inc. has a 12-month low of $6.39 and a 12-month high of $14.54. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.51.

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

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Wednesday, April 3rd will be issued a $0.10 dividend. The ex-dividend date is Tuesday, April 2nd. This represents a $0.40 annualized dividend and a yield of 3.06%. Steelcase’s dividend payout ratio (DPR) is presently 58.82%.

Institutional Trading of Steelcase

Several hedge funds and other institutional investors have recently bought and sold shares of SCS. USA Financial Formulas acquired a new stake in shares of Steelcase during the 4th quarter valued at about $28,000. Point72 Hong Kong Ltd acquired a new stake in shares of Steelcase during the 1st quarter valued at about $33,000. FinTrust Capital Advisors LLC acquired a new stake in shares of Steelcase during the 4th quarter valued at about $44,000. Captrust Financial Advisors boosted its position in shares of Steelcase by 179.6% during the 1st quarter. Captrust Financial Advisors now owns 4,141 shares of the business services provider’s stock valued at $49,000 after acquiring an additional 2,660 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Steelcase by 208.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 6,091 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 4,119 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Steelcase from a “buy” rating to a “strong-buy” rating in a research note on Friday.

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.