Lizbeth S. O’shaughnessy Sells 20,000 Shares of Steelcase Inc. (NYSE:SCS) Stock
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.
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.
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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