Steelcase Inc. (NYSE:SCS - Get Free Report) VP Robert G. Krestakos sold 5,000 shares of the company's 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 directly owns 114,481 shares in the company, valued at $1,344,006.94. This trade represents a 4.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Steelcase Trading Down 0.5 %
NYSE:SCS traded down $0.06 during trading hours on Friday, reaching $11.55. 476,663 shares of the company were exchanged, compared to its average volume of 560,364. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.16 and a beta of 1.36. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. The stock has a 50 day simple moving average of $12.37 and a 200 day simple moving average of $12.94. Steelcase Inc. has a 52-week low of $10.90 and a 52-week high of $14.74.
Steelcase (NYSE:SCS - Get Free Report) last issued its earnings results on Wednesday, December 18th. The business services provider reported $0.30 EPS for the quarter, beating 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 business had revenue of $794.90 million for the quarter, compared to the consensus estimate of $796.58 million. During the same quarter last year, the firm posted $0.30 EPS. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts predict that Steelcase Inc. will post 1 EPS for the current year.
Steelcase Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Monday, December 30th. Steelcase's payout ratio is 41.67%.
Institutional Investors Weigh In On Steelcase
Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Steelcase by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,297,183 shares of the business services provider's stock worth $68,652,000 after acquiring an additional 215,729 shares during the period. Fifth Third Bancorp lifted its position in shares of Steelcase by 7.4% during the fourth quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider's stock worth $42,305,000 after purchasing an additional 245,981 shares in the last quarter. State Street Corp boosted its stake 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 period. Geode Capital Management LLC grew its holdings in Steelcase by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,180,428 shares of the business services provider's stock valued at $29,420,000 after purchasing an additional 22,507 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Steelcase by 322.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider's stock worth $7,720,000 after buying an additional 436,754 shares during the period. Institutional investors and hedge funds own 92.42% of the company's stock.
Analysts Set New Price Targets
Separately, Noble Financial assumed coverage on Steelcase in a report on Wednesday, October 9th. They issued an "outperform" rating and a $16.00 price target for the company.
Check Out Our Latest Analysis on Steelcase
About Steelcase
(
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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.
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