Steelcase Inc. (scs) Plans $0.12 Quarterly Dividend
Steelcase Inc. (NYSE:scs) declared a quarterly dividend on Wednesday, September 21st. Stockholders of record on Tuesday, October 4th will be paid a dividend of 0.12 per share on Friday, October 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, September 30th.
Steelcase (NYSE:SCS) opened at 12.86 on Thursday. The firm has a market cap of $1.53 billion, a PE ratio of 9.43 and a beta of 1.38. The stock has a 50 day moving average of $14.37 and a 200-day moving average of $14.73. Steelcase has a 52 week low of $11.67 and a 52 week high of $20.37.
Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, September 21st. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. Steelcase had a net margin of 5.52% and a return on equity of 18.31%. The company had revenue of $758 million for the quarter. During the same quarter last year, the business earned $0.35 earnings per share. Steelcase’s revenue for the quarter was down 7.4% on a year-over-year basis. Analysts expect that Steelcase will post $1.10 earnings per share for the current year.
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In other news, VP Sara E. Armbruster sold 14,000 shares of Steelcase stock in a transaction that occurred on Wednesday, June 29th. The shares were sold at an average price of $13.50, for a total value of $189,000.00. Following the sale, the vice president now directly owns 99,711 shares in the company, valued at $1,346,098.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 18.68% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its position in Steelcase by 3.3% in the second quarter. ProShare Advisors LLC now owns 10,531 shares of the company’s stock valued at $143,000 after buying an additional 336 shares in the last quarter. American International Group Inc. boosted its position in Steelcase by 1.6% in the second quarter. American International Group Inc. now owns 49,566 shares of the company’s stock valued at $673,000 after buying an additional 776 shares in the last quarter. Hsbc Holdings PLC boosted its position in Steelcase by 24.3% in the second quarter. Hsbc Holdings PLC now owns 20,616 shares of the company’s stock valued at $280,000 after buying an additional 4,030 shares in the last quarter. Rhumbline Advisers boosted its position in Steelcase by 6.3% in the second quarter. Rhumbline Advisers now owns 92,722 shares of the company’s stock valued at $1,258,000 after buying an additional 5,456 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in Steelcase by 11.0% in the second quarter. Baird Financial Group Inc. now owns 76,218 shares of the company’s stock valued at $1,034,000 after buying an additional 7,581 shares in the last quarter. 65.72% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research upgraded shares of Steelcase from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th.
Steelcase Company Profile
Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.
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