Steelcase Inc. (NYSE:SCS) CAO Lizbeth S. O’shaughnessy sold 20,000 shares of Steelcase stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $17.11, for a total value of $342,200.00. Following the transaction, the chief accounting officer now directly owns 209,840 shares in the company, valued at $3,590,362.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

NYSE SCS opened at $17.17 on Friday. The business has a 50 day simple moving average of $16.80. The company has a current ratio of 1.57, a quick ratio of 1.13 and a debt-to-equity ratio of 0.78. Steelcase Inc. has a 12 month low of $13.40 and a 12 month high of $19.35. The stock has a market cap of $2.03 billion, a PE ratio of 14.31 and a beta of 1.33.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Wednesday, June 19th. The business services provider reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.04). Steelcase had a return on equity of 16.35% and a net margin of 3.61%. The business had revenue of $824.30 million during the quarter, compared to analysts’ expectations of $839.07 million. During the same period in the prior year, the firm posted $0.14 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that Steelcase Inc. will post 1.28 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Monday, July 1st will be issued a $0.145 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.58 dividend on an annualized basis and a yield of 3.38%. Steelcase’s dividend payout ratio is presently 48.33%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisor Group Inc. lifted its holdings in Steelcase by 33.3% in the 4th quarter. Advisor Group Inc. now owns 4,285 shares of the business services provider’s stock worth $63,000 after purchasing an additional 1,071 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Steelcase by 639.7% in the 4th quarter. Macquarie Group Ltd. now owns 5,304 shares of the business services provider’s stock worth $79,000 after purchasing an additional 4,587 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Steelcase in the 1st quarter worth approximately $160,000. Principal Financial Group Inc. purchased a new position in Steelcase in the 4th quarter worth approximately $164,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Steelcase in the 1st quarter worth approximately $169,000. 66.17% of the stock is currently owned by institutional investors.

A number of research analysts have recently weighed in on SCS shares. Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Raymond James set a $28.00 price objective on Wheaton Precious Metals and gave the company a “buy” rating in a research report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $19.00.

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, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including worktools.

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