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Steelcase (SCS) Edges Higher on Rare Insider Buy

August 7, 2012 11:37 AM EDT
Steelcase Inc. (NYSE: SCS) is edging higher Tuesday as investors react to a rare insider buy.

Director David Hoover disclosed today the purchase of 10,000 shares made on 8/3 at $8.78.

Hoover is a new director, so the purchase could be to satisfy director shareholding requirements. Nonetheless, SCS last traded at $9.11, up 1.5 percent.


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