Robert G. Krestakos Sells 5,000 Shares of Steelcase Inc. (NYSE:SCS) Stock

Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total transaction of $58,700.00. Following the transaction, the vice president now owns 114,481 shares of the company’s stock, valued at $1,344,006.94. This represents a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Steelcase Stock Down 0.5 %

SCS stock opened at $11.55 on Friday. The stock has a market capitalization of $1.31 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.16 and a beta of 1.36. The firm has a 50-day simple moving average of $12.37 and a 200-day simple moving average of $12.94. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a 52 week low of $10.90 and a 52 week high of $14.74.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $794.90 million for the quarter, compared to analyst estimates of $796.58 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. Steelcase’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 earnings per share. Equities analysts forecast that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a $0.10 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.40 annualized dividend and a yield of 3.46%. Steelcase’s payout ratio is 41.67%.

Analyst Ratings Changes

Separately, Noble Financial assumed coverage on shares of Steelcase in a report on Wednesday, October 9th. They issued an “outperform” rating and a $16.00 price objective for the company.

Hedge Funds Weigh In On Steelcase

Large investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new position in shares of Steelcase in the 4th quarter worth approximately $36,000. Centiva Capital LP purchased a new stake in shares of Steelcase in the 3rd quarter valued at approximately $181,000. Creative Planning increased its position 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 valued at $182,000 after purchasing an additional 1,075 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Steelcase by 33.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 16,028 shares of the business services provider’s stock valued at $207,000 after purchasing an additional 4,011 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Steelcase in the 3rd quarter valued at $347,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

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.