318,900 Shares in Steelcase Inc. (NYSE:SCS) Bought by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC bought a new position in Steelcase Inc. (NYSE:SCS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 318,900 shares of the business services provider's stock, valued at approximately $3,769,000. Brandywine Global Investment Management LLC owned about 0.28% of Steelcase at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SCS. R Squared Ltd bought a new stake in shares of Steelcase in the 4th quarter worth approximately $36,000. Olympiad Research LP bought a new position in Steelcase in the 4th quarter worth $134,000. Aigen Investment Management LP purchased a new stake in shares of Steelcase in the 4th quarter worth about $155,000. Centiva Capital LP purchased a new position in shares of Steelcase during the third quarter valued at about $181,000. Finally, LPL Financial LLC bought a new position in Steelcase in the fourth quarter worth about $191,000. Hedge funds and other institutional investors own 92.42% of the company's stock.

Steelcase Stock Down 0.4 %

Shares of NYSE:SCS traded down $0.05 during midday trading on Friday, reaching $10.69. The company's stock had a trading volume of 1,118,888 shares, compared to its average volume of 636,154. Steelcase Inc. has a 12-month low of $10.25 and a 12-month high of $14.74. The firm has a market capitalization of $1.22 billion, a P/E ratio of 11.14, a PEG ratio of 1.25 and a beta of 1.12. The firm has a 50 day moving average of $11.54 and a 200-day moving average of $12.24. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48.

Steelcase (NYSE:SCS - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The firm had revenue of $788.00 million during the quarter, compared to analyst estimates of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business's revenue was up 1.7% on a year-over-year basis. During the same period last year, the business earned $0.23 earnings per share. On average, research analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.10 dividend. The ex-dividend date is Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.74%. Steelcase's dividend payout ratio is currently 39.60%.

Insider Activity

In other news, VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total transaction of $58,700.00. Following the sale, the vice president now owns 114,481 shares in the company, valued at $1,344,006.94. This represents a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 12.96% of the company's stock.

Analyst Ratings Changes

Separately, Sidoti raised Steelcase to a "hold" rating in a research report on Friday, March 28th.

Steelcase Profile

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.