Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos Sells 4,000 Shares

Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos sold 4,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $13.11, for a total transaction of $52,440.00. Following the sale, the vice president now directly owns 119,481 shares in the company, valued at $1,566,395.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Steelcase Stock Up 1.5 %

SCS opened at $13.15 on Thursday. The stock’s 50 day moving average price is $13.28 and its 200 day moving average price is $13.06. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.62 and a quick ratio of 1.23. The stock has a market cap of $1.50 billion, a P/E ratio of 17.30, a P/E/G ratio of 1.24 and a beta of 1.32. Steelcase Inc. has a 12 month low of $10.29 and a 12 month high of $14.74.

Steelcase (NYSE:SCS) last issued its quarterly earnings results on Wednesday, September 18th. The business services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $855.80 million for the quarter, compared to analyst estimates of $864.17 million. Steelcase had a return on equity of 14.41% and a net margin of 4.02%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. As a group, research analysts predict that Steelcase Inc. will post 1.02 earnings per share for the current year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Monday, September 30th. Steelcase’s dividend payout ratio (DPR) is presently 52.63%.

Institutional Investors Weigh In On Steelcase

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Steelcase in the second quarter valued at $93,000. SpiderRock Advisors LLC acquired a new stake in Steelcase in the 1st quarter valued at about $135,000. DekaBank Deutsche Girozentrale bought a new position in shares of Steelcase during the 1st quarter valued at about $141,000. Allspring Global Investments Holdings LLC grew its stake in shares of Steelcase by 34,941.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,615 shares of the business services provider’s stock worth $165,000 after purchasing an additional 12,579 shares during the last quarter. Finally, Creative Planning raised its holdings in shares of Steelcase by 8.7% in the 3rd quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock worth $182,000 after purchasing an additional 1,075 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SCS shares. Noble Financial began coverage on shares of Steelcase in a research note on Wednesday, October 9th. They set an “outperform” rating and a $16.00 price objective on the stock. Benchmark increased their price target on Steelcase from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, June 21st.

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.