Steelcase Inc. (NYSE:SCS) Short Interest Up 33.6% in February

Steelcase Inc. (NYSE:SCS - Get Free Report) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 1,630,000 shares, an increase of 33.6% from the February 13th total of 1,220,000 shares. Based on an average daily volume of 598,800 shares, the short-interest ratio is presently 2.7 days. Currently, 1.9% of the shares of the company are sold short.

Insider Buying and Selling

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total value 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 approximately $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCS. Empowered Funds LLC boosted its holdings in Steelcase by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 557,744 shares of the business services provider's stock valued at $7,524,000 after purchasing an additional 28,408 shares during the last quarter. Quest Partners LLC lifted its holdings in Steelcase by 399.0% in the third quarter. Quest Partners LLC now owns 30,247 shares of the business services provider's stock valued at $408,000 after acquiring an additional 24,186 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Steelcase in the third quarter worth approximately $2,273,000. Intech Investment Management LLC acquired a new stake in Steelcase during the third quarter worth $347,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Steelcase in the third quarter valued at $602,000. Hedge funds and other institutional investors own 92.42% of the company's stock.

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Steelcase Stock Performance

SCS traded down $0.06 on Thursday, reaching $11.01. The stock had a trading volume of 389,410 shares, compared to its average volume of 615,460. The business's 50-day moving average price is $11.67 and its two-hundred day moving average price is $12.48. The company has a market cap of $1.25 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. Steelcase has a 12-month low of $10.78 and a 12-month high of $14.74. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48.

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

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.