Steelcase Inc. (NYSE:SCS) Short Interest Update

Steelcase Inc. (NYSE:SCS) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 1,630,000 shares, a growth of 33.6% from the February 13th total of 1,220,000 shares. Based on an average daily volume of 598,800 shares, the short-interest ratio is currently 2.7 days. Currently, 1.9% of the shares of the stock are short sold.

Steelcase Stock Up 1.7 %

Shares of NYSE:SCS traded up $0.18 during trading on Friday, hitting $10.97. The stock had a trading volume of 726,499 shares, compared to its average volume of 618,182. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $1.25 billion, a PE ratio of 11.43, a PEG ratio of 1.25 and a beta of 1.33. The firm’s fifty day moving average is $11.69 and its 200 day moving average is $12.53. Steelcase has a 12 month low of $10.78 and a 12 month high of $14.74.

Steelcase (NYSE:SCS) last announced its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company had revenue of $794.90 million during the quarter, compared to analyst estimates of $796.58 million. During the same period in the previous year, the business earned $0.30 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts anticipate that Steelcase will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.64%. Steelcase’s dividend payout ratio is currently 41.67%.

Insider Activity

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value of $58,700.00. Following the completion of the sale, the vice president now directly owns 114,481 shares of the company’s stock, valued at $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 12.96% of the company’s stock.

Hedge Funds Weigh In On Steelcase

Institutional investors have recently made changes to their positions in the business. R Squared Ltd bought a new position in shares of Steelcase in the fourth quarter worth about $36,000. Virtus Fund Advisers LLC lifted its holdings in Steelcase by 228.9% in the 4th 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 in the last quarter. Quarry LP boosted its position in shares of Steelcase by 162.6% during the fourth quarter. Quarry LP now owns 8,344 shares of the business services provider’s stock worth $99,000 after acquiring an additional 5,166 shares during the last quarter. Olympiad Research LP bought a new stake in Steelcase in the 4th quarter worth approximately $134,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Steelcase during the 4th quarter valued at about $135,000. Institutional investors own 92.42% of the company’s stock.

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.