Barclays PLC Boosts Stock Holdings in Steelcase Inc. (NYSE:SCS)

Barclays PLC grew its holdings in Steelcase Inc. (NYSE:SCS - Free Report) by 203.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,002 shares of the business services provider's stock after buying an additional 119,268 shares during the quarter. Barclays PLC owned 0.16% of Steelcase worth $2,402,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Pzena Investment Management LLC boosted its holdings in Steelcase by 0.5% in the 2nd quarter. Pzena Investment Management LLC now owns 7,092,675 shares of the business services provider's stock worth $91,921,000 after buying an additional 33,024 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Steelcase by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 5,297,183 shares of the business services provider's stock worth $68,652,000 after acquiring an additional 215,729 shares during the last quarter. Cooke & Bieler LP increased its position in shares of Steelcase by 4.9% during the second quarter. Cooke & Bieler LP now owns 4,002,442 shares of the business services provider's stock worth $51,872,000 after purchasing an additional 186,596 shares in the last quarter. American Century Companies Inc. increased its position in shares of Steelcase by 13.5% during the second quarter. American Century Companies Inc. now owns 2,450,799 shares of the business services provider's stock worth $31,762,000 after purchasing an additional 291,070 shares in the last quarter. Finally, State Street Corp raised its stake in Steelcase by 1.0% in the 3rd quarter. State Street Corp now owns 2,260,310 shares of the business services provider's stock valued at $30,714,000 after purchasing an additional 22,226 shares during the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

Steelcase Price Performance

Shares of Steelcase stock traded up $0.17 on Thursday, hitting $11.90. 519,928 shares of the company were exchanged, compared to its average volume of 671,345. Steelcase Inc. has a 1-year low of $11.47 and a 1-year high of $14.74. The company has a quick ratio of 1.23, a current ratio of 1.62 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35. The company has a 50-day moving average price of $12.90 and a 200 day moving average price of $13.12.

Steelcase (NYSE:SCS - Get Free Report) last issued its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.07. The business had revenue of $794.90 million during the quarter, compared to the consensus estimate of $796.58 million. Steelcase had a return on equity of 14.41% and a net margin of 4.02%. The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS. As a group, sell-side analysts predict that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be issued a $0.10 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.40 annualized dividend and a yield of 3.36%. Steelcase's payout ratio is 41.67%.

Insider Activity

In related news, VP Robert G. Krestakos sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $13.11, for a total transaction of $52,440.00. Following the completion of the transaction, the vice president now owns 119,481 shares of the company's stock, valued at approximately $1,566,395.91. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.96% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Noble Financial assumed coverage on shares of Steelcase in a research report on Wednesday, October 9th. They issued an "outperform" rating and a $16.00 target price for the company.

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.