Steelcase Inc. (NYSE:SCS) saw some unusual options trading activity on Thursday. Investors purchased 970 call options on the stock. This is an increase of approximately 1,517% compared to the typical volume of 60 call options.

Shares of Steelcase stock traded down $0.21 during mid-day trading on Friday, hitting $16.44. The stock had a trading volume of 1,500,385 shares, compared to its average volume of 632,960. Steelcase has a 12-month low of $13.10 and a 12-month high of $19.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.94. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 18.07 and a beta of 1.23.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Friday, September 21st. The business services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.12. Steelcase had a net margin of 2.89% and a return on equity of 13.97%. The business had revenue of $875.80 million during the quarter, compared to analysts’ expectations of $873.70 million. During the same quarter in the prior year, the company posted $0.26 EPS. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities analysts expect that Steelcase will post 1.08 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be paid a $0.135 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $0.54 annualized dividend and a dividend yield of 3.28%. Steelcase’s dividend payout ratio (DPR) is 59.34%.

Several analysts recently issued reports on the stock. TheStreet cut shares of Steelcase from a “b-” rating to a “c+” rating in a research note on Monday, June 25th. Zacks Investment Research raised shares of Steelcase from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, June 26th. ValuEngine cut shares of Steelcase from a “buy” rating to a “hold” rating in a research note on Friday. Seaport Global Securities raised shares of Steelcase from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday. Finally, Raymond James increased their price target on shares of Steelcase from $16.50 to $20.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Steelcase has a consensus rating of “Buy” and an average price target of $20.33.

In related news, VP Allan W. Smith, Jr. sold 14,000 shares of the company’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $18.54, for a total transaction of $259,560.00. Following the completion of the sale, the vice president now owns 31,490 shares of the company’s stock, valued at approximately $583,824.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP James N. Ludwig sold 7,500 shares of the company’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $18.56, for a total transaction of $139,200.00. Following the sale, the vice president now directly owns 31,960 shares of the company’s stock, valued at approximately $593,177.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,791 shares of company stock valued at $1,056,215. 17.58% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of SCS. Russell Investments Group Ltd. lifted its holdings in shares of Steelcase by 111.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,150,738 shares of the business services provider’s stock worth $15,650,000 after acquiring an additional 606,117 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Steelcase by 22.6% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,925,293 shares of the business services provider’s stock worth $39,491,000 after acquiring an additional 539,088 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Steelcase by 8.5% in the 2nd quarter. BlackRock Inc. now owns 5,802,959 shares of the business services provider’s stock worth $78,341,000 after acquiring an additional 456,137 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Steelcase by 14.0% in the 2nd quarter. Pzena Investment Management LLC now owns 3,393,731 shares of the business services provider’s stock worth $45,815,000 after acquiring an additional 416,815 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Steelcase by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,199,765 shares of the business services provider’s stock worth $56,697,000 after acquiring an additional 386,228 shares during the last quarter. 63.70% of the stock is owned by institutional investors and hedge funds.

About Steelcase

Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as other products, including worktools.

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