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 business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $10.13, for a total transaction of $60,780.00. Following the sale, the vice president now owns 139,912 shares of the company’s stock, valued at approximately $1,417,308.56. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Steelcase Stock Performance

Steelcase stock opened at $9.77 on Friday. The firm has a market capitalization of $1.11 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.25 and a beta of 1.12. Steelcase Inc. has a one year low of $9.58 and a one year high of $14.74. The stock’s 50 day moving average price is $11.22 and its 200 day moving average price is $12.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57.

Steelcase (NYSE:SCS) last posted its earnings results on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $788.00 million for the quarter, compared to analysts’ expectations of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 earnings per share. As a group, sell-side 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. Stockholders of record on Monday, April 7th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Monday, April 7th. Steelcase’s payout ratio is 39.60%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Steelcase by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,425,529 shares of the business services provider’s stock worth $64,129,000 after purchasing an additional 47,748 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of Steelcase by 2.6% in the fourth quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider’s stock worth $63,513,000 after buying an additional 133,893 shares during the last quarter. Fifth Third Bancorp raised its holdings in Steelcase by 6.2% in the first quarter. Fifth Third Bancorp now owns 3,802,658 shares of the business services provider’s stock valued at $41,677,000 after acquiring an additional 223,541 shares in the last quarter. American Century Companies Inc. boosted its stake in Steelcase by 10.0% during the 4th quarter. American Century Companies Inc. now owns 3,024,828 shares of the business services provider’s stock valued at $35,753,000 after acquiring an additional 275,369 shares during the last quarter. Finally, State Street Corp grew its holdings in Steelcase by 1.0% during the 3rd quarter. State Street Corp now owns 2,260,310 shares of the business services provider’s stock worth $30,714,000 after acquiring an additional 22,226 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

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.