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

Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos sold 4,000 shares of Steelcase stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $12.61, for a total transaction 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 legal filing with the SEC, which is available at this hyperlink.

Steelcase Trading Up 1.6 %

SCS opened at $13.08 on Friday. Steelcase Inc. has a fifty-two week low of $6.39 and a fifty-two week high of $14.54. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 1.12. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 1.40 and a beta of 1.35. The company’s 50 day moving average price is $12.87 and its two-hundred day moving average price is $12.12.

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

Steelcase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, April 2nd. This represents a $0.40 annualized dividend and a yield of 3.06%. Steelcase’s payout ratio is 58.82%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Steelcase

Several institutional investors have recently made changes to their positions in the company. USA Financial Formulas bought a new position in Steelcase during the fourth quarter valued at about $28,000. Point72 Hong Kong Ltd bought a new position in Steelcase during the first quarter valued at about $33,000. FinTrust Capital Advisors LLC bought a new position in Steelcase during the fourth quarter valued at about $44,000. Captrust Financial Advisors grew its position in Steelcase by 179.6% during the first quarter. Captrust Financial Advisors now owns 4,141 shares of the business services provider’s stock valued at $49,000 after buying an additional 2,660 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Steelcase by 208.9% during the first quarter. Tower Research Capital LLC TRC now owns 6,091 shares of the business services provider’s stock valued at $51,000 after buying an additional 4,119 shares during the period. Institutional investors own 92.42% of the company’s stock.

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.