Steelcase Inc. (NYSE:SCS – Get Rating) Director Jennifer C. Niemann sold 3,900 shares of the stock in a transaction dated Wednesday, April 27th. The shares were sold at an average price of $11.98, for a total transaction of $46,722.00. Following the completion of the transaction, the director now owns 19,346 shares of the company’s stock, valued at approximately $231,765.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of NYSE SCS opened at $12.14 on Friday. Steelcase Inc. has a twelve month low of $10.66 and a twelve month high of $15.84. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 404.80 and a beta of 1.27. The firm has a 50-day moving average of $11.80 and a two-hundred day moving average of $11.99.
Steelcase (NYSE:SCS – Get Rating) last issued its quarterly earnings results on Wednesday, March 23rd. The business services provider reported ($0.02) earnings per share for the quarter. Steelcase had a net margin of 0.14% and a return on equity of 0.45%. The business had revenue of $753.10 million during the quarter, compared to analyst estimates of $751.68 million. During the same period in the previous year, the company posted $0.06 earnings per share. Steelcase’s revenue was up 11.2% compared to the same quarter last year. As a group, research analysts predict that Steelcase Inc. will post 0.6 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the business. Millennium Management LLC lifted its stake in Steelcase by 93.9% during the third quarter. Millennium Management LLC now owns 724,877 shares of the business services provider’s stock valued at $9,191,000 after buying an additional 351,041 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Steelcase by 50.9% during the third quarter. Hsbc Holdings PLC now owns 27,906 shares of the business services provider’s stock valued at $357,000 after buying an additional 9,407 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Steelcase by 2.3% during the third quarter. Pzena Investment Management LLC now owns 6,000,369 shares of the business services provider’s stock valued at $76,085,000 after buying an additional 137,326 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Steelcase during the third quarter valued at about $99,000. Finally, BlackRock Inc. lifted its stake in Steelcase by 3.3% during the third quarter. BlackRock Inc. now owns 8,371,826 shares of the business services provider’s stock valued at $106,156,000 after buying an additional 265,327 shares in the last quarter. 79.17% of the stock is owned by institutional investors.
Separately, StockNews.com initiated coverage on shares of Steelcase in a research report on Thursday, March 31st. They issued a “hold” rating for the company.
About Steelcase (Get Rating)
Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products in the United States and internationally. It operates through Americas, EMEA, and Other segments. The company's furniture portfolio includes panels, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including worktools and screens.
- Get a free copy of the StockNews.com research report on Steelcase (SCS)
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