Insider Selling: Steelcase Inc. (NYSE:SCS) VP Sells 5,000 Shares of Stock

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

Steelcase Stock Performance

Shares of NYSE SCS traded down $0.01 during midday trading on Thursday, reaching $11.57. 178,340 shares of the company traded hands, compared to its average volume of 533,030. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 1.19 and a beta of 1.36. The stock has a 50-day moving average price of $12.44 and a 200 day moving average price of $12.95. Steelcase Inc. has a 52 week low of $10.90 and a 52 week high of $14.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21.

Steelcase (NYSE:SCS) last issued 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. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company had revenue of $794.90 million during the quarter, compared to analyst estimates of $796.58 million. During the same period in the prior year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

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

Analysts Set New Price Targets

Separately, Noble Financial assumed coverage on Steelcase in a report on Wednesday, October 9th. They set an “outperform” rating and a $16.00 price target on the stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SCS. Robeco Institutional Asset Management B.V. increased its holdings in shares of Steelcase by 1.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 456,720 shares of the business services provider’s stock valued at $5,398,000 after buying an additional 8,190 shares in the last quarter. R Squared Ltd purchased a new position in shares of Steelcase during the fourth quarter valued at $36,000. Fifth Third Bancorp increased its holdings in shares of Steelcase by 7.4% in the 4th 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 during the period. SG Americas Securities LLC purchased a new stake in Steelcase in the 4th quarter worth approximately $379,000. Finally, Diversified Trust Co lifted its position in Steelcase by 2.9% in the 4th quarter. Diversified Trust Co now owns 31,801 shares of the business services provider’s stock worth $376,000 after buying an additional 886 shares in the last quarter. 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.