GuruFocus - On July 25, 2024, David Sylvester, Senior Vice President and Chief Financial Officer of Steelcase Inc (NYSE:SCS), sold 75,000 shares of the company. The transaction was documented in an SEC Filing. Following this sale, the insider now owns 549,776 shares of Steelcase Inc.
Steelcase Inc is a global leader in office furniture, interior architecture, and space solutions for offices, hospitals, and classrooms. The company is known for its innovative products that enhance productivity and wellbeing in the workplace.
Over the past year, David Sylvester has sold a total of 160,000 shares and has not made any purchases of the company's stock. This recent sale is part of a broader trend within the company, where there have been 10 insider sells and no insider buys over the past year.
Shares of Steelcase Inc were trading at $13.83 on the day of the sale. The company has a market cap of approximately $1.58 billion. The price-earnings ratio of the company stands at 18.20, which is lower than the industry median of 22.16 and also below the company's historical median.
The stock's GF Value is calculated at $12.14, indicating that with a price of $13.83, Steelcase Inc is considered Modestly Overvalued with a price-to-GF-Value ratio of 1.14. The GF Value is derived from historical trading multiples, an adjustment factor based on past performance, and future business projections.
This insider sale might interest investors tracking ownership changes and evaluating the stock's current valuation against its intrinsic value.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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