Robert G. Krestakos Sells 12,000 Shares of Steelcase Inc. (NYSE:SCS) Stock

Steelcase Inc. (NYSE:SCS - Get Free Report) VP Robert G. Krestakos sold 12,000 shares of the stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $10.63, for a total value of $127,560.00. Following the transaction, the vice president owned 127,912 shares in the company, valued at approximately $1,359,704.56. This trade represents a 8.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Steelcase Stock Performance

SCS stock traded down $0.03 during midday trading on Monday, hitting $10.57. The stock had a trading volume of 748,436 shares, compared to its average volume of 677,354. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 1.01 and a beta of 1.13. Steelcase Inc. has a 52 week low of $9.32 and a 52 week high of $14.74. The stock has a 50-day simple moving average of $10.50 and a 200 day simple moving average of $10.93. The company has a current ratio of 1.65, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46.

Steelcase (NYSE:SCS - Get Free Report) last issued its earnings results on Wednesday, June 25th. The business services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. The firm had revenue of $779.00 million during the quarter, compared to analysts' expectations of $759.90 million. Steelcase had a return on equity of 14.49% and a net margin of 3.84%. Steelcase's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.16 earnings per share. As a group, equities research analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a $0.10 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.40 annualized dividend and a yield of 3.79%. Steelcase's dividend payout ratio (DPR) is currently 38.83%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Steelcase from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. Sidoti raised Steelcase to a "hold" rating in a research report on Friday, March 28th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SCS. Jones Financial Companies Lllp increased its stake in shares of Steelcase by 3,634.2% in the first quarter. Jones Financial Companies Lllp now owns 2,950 shares of the business services provider's stock valued at $32,000 after buying an additional 2,871 shares in the last quarter. US Bancorp DE increased its stake in shares of Steelcase by 4,509.8% in the first quarter. US Bancorp DE now owns 4,702 shares of the business services provider's stock valued at $52,000 after buying an additional 4,600 shares in the last quarter. GAMMA Investing LLC increased its position in Steelcase by 1,468.7% in the first quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider's stock worth $63,000 after purchasing an additional 5,346 shares during the period. Virtus Fund Advisers LLC increased its position in Steelcase by 228.9% in the fourth quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider's stock worth $93,000 after purchasing an additional 5,493 shares during the period. Finally, Quarry LP increased its position in Steelcase by 162.6% in the fourth quarter. Quarry LP now owns 8,344 shares of the business services provider's stock worth $99,000 after purchasing an additional 5,166 shares during the period. 92.42% of the stock is owned by institutional investors.

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.