Steelcase Inc. (NYSE:SCS) Short Interest Up 28.0% in February

Steelcase Inc. (NYSE:SCS - Get Free Report) saw a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 1,220,000 shares, a growth of 28.0% from the January 31st total of 953,400 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average trading volume of 594,900 shares, the short-interest ratio is presently 2.1 days.

Steelcase Price Performance

SCS traded up $0.22 during midday trading on Friday, hitting $11.74. The company had a trading volume of 483,682 shares, compared to its average volume of 579,911. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. The company has a market capitalization of $1.33 billion, a PE ratio of 12.22, a P/E/G ratio of 1.25 and a beta of 1.33. Steelcase has a twelve month low of $10.90 and a twelve month high of $14.74. The firm's 50-day simple moving average is $11.75 and its 200-day simple moving average is $12.64.

Steelcase (NYSE:SCS - Get Free Report) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. The firm had revenue of $794.90 million during the quarter, compared to analysts' expectations of $796.58 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. Equities research analysts predict that Steelcase will post 1 EPS for the current fiscal year.

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Steelcase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Monday, December 30th. Steelcase's dividend payout ratio is 41.67%.

Insider Transactions at Steelcase

In related news, 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 transaction, the vice president now directly owns 114,481 shares of the company's stock, valued at $1,344,006.94. This trade represents a 4.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Steelcase

Several institutional investors have recently modified their holdings of the business. Diversified Trust Co grew its position in shares of Steelcase by 2.9% during 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 during the period. Rhumbline Advisers grew its position in shares of Steelcase by 0.6% during the 4th quarter. Rhumbline Advisers now owns 155,013 shares of the business services provider's stock worth $1,832,000 after buying an additional 932 shares during the period. Creative Planning grew its position in shares of Steelcase by 8.7% during the 3rd quarter. Creative Planning now owns 13,470 shares of the business services provider's stock worth $182,000 after buying an additional 1,075 shares during the period. MetLife Investment Management LLC grew its position in shares of Steelcase by 2.0% during the 4th quarter. MetLife Investment Management LLC now owns 54,643 shares of the business services provider's stock worth $646,000 after buying an additional 1,079 shares during the period. Finally, Hillsdale Investment Management Inc. grew its position in shares of Steelcase by 0.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 284,800 shares of the business services provider's stock worth $3,366,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds 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.