Jane Street Group LLC lowered its position in Steelcase Inc. (NYSE:SCS - Free Report) by 35.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,880 shares of the business services provider's stock after selling 51,911 shares during the period. Jane Street Group LLC owned about 0.08% of Steelcase worth $1,280,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its position in Steelcase by 8.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 12,017 shares of the business services provider's stock worth $153,000 after buying an additional 897 shares in the last quarter. Creative Planning raised its position in shares of Steelcase by 8.7% during the 3rd quarter. Creative Planning now owns 13,470 shares of the business services provider's stock valued at $182,000 after buying an additional 1,075 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Steelcase by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 48,292 shares of the business services provider's stock valued at $626,000 after purchasing an additional 1,426 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Steelcase by 4.0% during the third quarter. Harbor Capital Advisors Inc. now owns 40,938 shares of the business services provider's stock worth $552,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Arjuna Capital boosted its holdings in shares of Steelcase by 1.1% in the 3rd quarter. Arjuna Capital now owns 152,400 shares of the business services provider's stock worth $2,056,000 after purchasing an additional 1,674 shares in the last quarter. 92.42% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, Noble Financial initiated coverage on shares of Steelcase in a research report on Wednesday, October 9th. They set an "outperform" rating and a $16.00 price target on the stock.
View Our Latest Research Report on Steelcase
Steelcase Trading Up 0.6 %
NYSE:SCS traded up $0.07 during midday trading on Friday, reaching $11.97. 768,191 shares of the stock traded hands, compared to its average volume of 671,732. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.23 and a current ratio of 1.62. The company has a fifty day moving average of $12.88 and a 200 day moving average of $13.12. The stock has a market capitalization of $1.36 billion, a P/E ratio of 11.29, a PEG ratio of 1.29 and a beta of 1.35. Steelcase Inc. has a 12 month low of $11.47 and a 12 month high of $14.74.
Steelcase (NYSE:SCS - Get Free Report) last issued its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.07. Steelcase had a return on equity of 14.41% and a net margin of 4.02%. The firm had revenue of $794.90 million for the quarter, compared to analyst estimates of $796.58 million. During the same period last year, the company earned $0.30 EPS. The business's quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts predict that Steelcase Inc. will post 1 EPS for the current year.
Steelcase Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a $0.10 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.34%. Steelcase's dividend payout ratio is 41.67%.
Insider Activity
In other news, VP Robert G. Krestakos sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $13.11, for a total value 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 represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.96% of the company's stock.
Steelcase Company Profile
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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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