Integrated Quantitative Investments LLC acquired a new stake in shares of Steelcase Inc. (NYSE:SCS - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 63,634 shares of the business services provider's stock, valued at approximately $752,000. Integrated Quantitative Investments LLC owned about 0.06% of Steelcase at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC bought a new stake in Steelcase during the third quarter valued at $6,167,000. Teacher Retirement System of Texas grew its position in shares of Steelcase by 109.8% during the 4th quarter. Teacher Retirement System of Texas now owns 775,177 shares of the business services provider's stock valued at $9,163,000 after buying an additional 405,614 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Steelcase during the fourth quarter worth about $3,769,000. Prudential Financial Inc. lifted its holdings in Steelcase by 150.6% in the fourth quarter. Prudential Financial Inc. now owns 528,658 shares of the business services provider's stock worth $6,249,000 after acquiring an additional 317,700 shares during the last quarter. Finally, Norges Bank acquired a new position in Steelcase in the fourth quarter valued at approximately $3,279,000. 92.42% of the stock is owned by institutional investors and hedge funds.
Steelcase Stock Performance
NYSE:SCS traded down $0.47 during mid-day trading on Thursday, hitting $10.14. The stock had a trading volume of 335,434 shares, compared to its average volume of 705,633. Steelcase Inc. has a 52 week low of $9.58 and a 52 week high of $14.74. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 1.25 and a beta of 1.12. The company has a 50 day simple moving average of $11.39 and a 200-day simple moving average of $12.15.
Steelcase (NYSE:SCS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. The business had revenue of $788.00 million during the quarter, compared to the consensus estimate of $790.90 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The business's revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. On average, research analysts expect that Steelcase Inc. will post 1 earnings per share for the current fiscal year.
Steelcase Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.94%. Steelcase's dividend payout ratio (DPR) is 39.60%.
Wall Street Analyst Weigh In
Separately, Sidoti raised Steelcase to a "hold" rating in a report on Friday, March 28th.
Read Our Latest Stock Analysis on Steelcase
Insider Transactions at Steelcase
In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the completion of the transaction, the vice president now directly owns 114,481 shares of the company's stock, valued at approximately $1,344,006.94. This trade represents a 4.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.96% of the company's stock.
About Steelcase
(
Free Report)
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.
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