Skandinaviska Enskilda Banken AB publ Has $1.43 Million Position in Steelcase Inc. (NYSE:SCS)

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 43.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,659 shares of the business services provider's stock after selling 83,629 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.10% of Steelcase worth $1,434,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its position in Steelcase by 8.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 12,017 shares of the business services provider's stock worth $153,000 after acquiring an additional 897 shares in the last quarter. Alhambra Investment Management LLC lifted its stake in Steelcase by 5.5% during the second quarter. Alhambra Investment Management LLC now owns 24,226 shares of the business services provider's stock valued at $314,000 after purchasing an additional 1,257 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Steelcase by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,656 shares of the business services provider's stock worth $218,000 after buying an additional 1,311 shares in the last quarter. Diversified Trust Co grew its position in Steelcase by 7.2% in the second quarter. Diversified Trust Co now owns 29,078 shares of the business services provider's stock worth $377,000 after buying an additional 1,957 shares during the last quarter. Finally, First Hawaiian Bank increased its holdings in shares of Steelcase by 2.8% in the first quarter. First Hawaiian Bank now owns 76,004 shares of the business services provider's stock valued at $994,000 after buying an additional 2,082 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Steelcase Trading Up 0.8 %

NYSE SCS traded up $0.11 on Tuesday, hitting $13.12. 710,314 shares of the company were exchanged, compared to its average volume of 717,729. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.15. Steelcase Inc. has a twelve month low of $10.29 and a twelve month high of $14.74. The firm has a market capitalization of $1.50 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33. The company's 50 day moving average price is $13.51 and its 200-day moving average price is $13.04.

Steelcase (NYSE:SCS - Get Free Report) last released its quarterly earnings results on Wednesday, September 18th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.02. Steelcase had a net margin of 2.89% and a return on equity of 13.66%. The business had revenue of $855.80 million for the quarter, compared to analyst estimates of $864.17 million. During the same quarter in the previous year, the business earned $0.31 earnings per share. The firm's revenue was up .1% compared to the same quarter last year. Analysts predict that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.10 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.05%. Steelcase's dividend payout ratio (DPR) is presently 52.63%.

Insider Activity

In related news, SVP Allan W. Smith, Jr. sold 70,444 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $13.84, for a total value of $974,944.96. Following the completion of the sale, the senior vice president now directly owns 184,743 shares of the company's stock, valued at approximately $2,556,843.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Steelcase news, SVP Allan W. Smith, Jr. sold 70,444 shares of the company's stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $13.84, for a total value of $974,944.96. Following the transaction, the senior vice president now owns 184,743 shares in the company, valued at approximately $2,556,843.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David C. Sylvester sold 73,184 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $13.84, for a total transaction of $1,012,866.56. Following the completion of the sale, the chief financial officer now owns 551,592 shares of the company's stock, valued at approximately $7,634,033.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,877 shares of company stock worth $2,228,248. 12.96% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Benchmark raised their price objective on Steelcase from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, June 21st.

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.