Steelcase Inc. (NYSE:SCS) VP Sells $60,780.00 in Stock

Steelcase Inc. (NYSE:SCS - Get Free Report) VP Robert G. Krestakos sold 6,000 shares of the firm's stock in a transaction 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 in the company, valued at approximately $1,417,308.56. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Steelcase Stock Up 0.6 %

Shares of Steelcase stock traded up $0.06 during trading hours on Friday, reaching $9.77. 762,265 shares of the company's stock were exchanged, compared to its average volume of 642,851. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $11.18 and a two-hundred day moving average of $11.99. The stock has a market cap of $1.11 billion, a P/E ratio of 10.17, a P/E/G ratio of 1.25 and a beta of 1.12. Steelcase Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $14.74.

Steelcase (NYSE:SCS - Get Free Report) last posted its quarterly 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. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm had revenue of $788.00 million for the quarter, compared to analyst estimates of $790.90 million. During the same quarter in the previous year, the firm earned $0.23 EPS. The business's quarterly revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts forecast that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.10%. Steelcase's payout ratio is 39.60%.

Analysts Set New Price Targets

Separately, Sidoti raised Steelcase to a "hold" rating in a research report on Friday, March 28th.

Hedge Funds Weigh In On Steelcase

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

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.