Robert G. Krestakos Sells 6,000 Shares of Steelcase Inc. (NYSE:SCS) Stock

Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos sold 6,000 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $10.13, for a total value of $60,780.00. Following the completion of the sale, the vice president now owns 139,912 shares of the company’s stock, valued at $1,417,308.56. This trade represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Steelcase Price Performance

Shares of NYSE:SCS opened at $9.73 on Thursday. The firm’s 50 day simple moving average is $11.26 and its two-hundred day simple moving average is $12.05. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. The company has a market capitalization of $1.11 billion, a P/E ratio of 10.14, a P/E/G ratio of 1.25 and a beta of 1.12. Steelcase Inc. has a 1-year low of $9.58 and a 1-year high of $14.74.

Steelcase (NYSE:SCS) last issued its earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. The company had revenue of $788.00 million during the quarter, compared to the consensus estimate of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. Steelcase’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. Research analysts expect that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Monday, April 7th. Steelcase’s dividend payout ratio (DPR) is presently 39.60%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its position in shares of Steelcase by 203.1% during the third quarter. Barclays PLC now owns 178,002 shares of the business services provider’s stock valued at $2,402,000 after buying an additional 119,268 shares during the last quarter. Geode Capital Management LLC increased its holdings in Steelcase by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,180,428 shares of the business services provider’s stock valued at $29,420,000 after acquiring an additional 22,507 shares during the last quarter. State Street Corp lifted its stake in Steelcase by 1.0% in the 3rd quarter. State Street Corp now owns 2,260,310 shares of the business services provider’s stock worth $30,714,000 after purchasing an additional 22,226 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Steelcase during the 4th quarter valued at about $379,000. Finally, Fifth Third Bancorp grew its position in shares of Steelcase by 7.4% during the fourth quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider’s stock valued at $42,305,000 after purchasing an additional 245,981 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Sidoti upgraded Steelcase to a “hold” rating in a research report on Friday, March 28th.

Steelcase Company Profile

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.