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 dated Monday, March 25th. The stock was sold at an average price of $12.61, for a total value of $50,440.00. Following the sale, the vice president now directly 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 is accessible through the SEC website.

Steelcase Price Performance

Shares of SCS stock traded up $0.14 during mid-day trading on Tuesday, hitting $12.71. 1,033,266 shares of the stock were exchanged, compared to its average volume of 784,289. The firm has a fifty day moving average of $12.84 and a 200 day moving average of $12.08. 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 Inc. has a 52-week low of $6.39 and a 52-week high of $14.54. The company has a market cap of $1.45 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 1.32 and a beta of 1.35.

Steelcase (NYSE:SCS) last posted its earnings results on Wednesday, March 20th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. Steelcase had a net margin of 2.57% and a return on equity of 13.00%. The business had revenue of $775.20 million for the quarter, compared to analyst estimates of $780.25 million. During the same period in the prior year, the company posted $0.19 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Research analysts anticipate that Steelcase Inc. will post 0.92 earnings per share for the current year.

Steelcase Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders 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 dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, April 2nd. Steelcase’s payout ratio is currently 58.82%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

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

Steelcase Company Profile

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.