Steelcase Inc. (NYSE:SCS) VP Robert G. Krestakos Sells 6,000 Shares

Steelcase Inc. (NYSE:SCS - Get Free Report) VP Robert G. Krestakos sold 6,000 shares of Steelcase stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $10.13, for a total transaction of $60,780.00. Following the transaction, the vice president now directly owns 139,912 shares of the company's stock, valued at approximately $1,417,308.56. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Steelcase Trading Up 0.6 %

Shares of NYSE SCS traded up $0.06 during mid-day trading on Friday, reaching $9.77. The company had a trading volume of 762,265 shares, compared to its average volume of 642,851. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 1.25 and a beta of 1.12. Steelcase Inc. has a 52 week low of $9.58 and a 52 week high of $14.74. The business's 50-day moving average is $11.18 and its 200-day moving average is $11.99. 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 earnings results on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. The business had revenue of $788.00 million for the quarter, compared to analyst estimates of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. Equities analysts expect that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Steelcase

Several institutional investors have recently made changes to their positions in SCS. Teacher Retirement System of Texas grew its holdings in Steelcase by 109.8% during the 4th quarter. Teacher Retirement System of Texas now owns 775,177 shares of the business services provider's stock worth $9,163,000 after acquiring an additional 405,614 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Steelcase by 93.6% during the fourth quarter. Millennium Management LLC now owns 694,625 shares of the business services provider's stock valued at $8,210,000 after purchasing an additional 335,889 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new position in Steelcase during the fourth quarter valued at approximately $3,769,000. Prudential Financial Inc. raised its stake in Steelcase by 150.6% in the fourth quarter. Prudential Financial Inc. now owns 528,658 shares of the business services provider's stock worth $6,249,000 after buying an additional 317,700 shares in the last quarter. Finally, Norges Bank bought a new position in Steelcase in the fourth quarter worth approximately $3,279,000. Hedge funds and other 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.