Steelcase Inc. (NYSE:SCS) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC cut its stake in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,223,555 shares of the business services provider's stock after selling 161,784 shares during the period. Douglas Lane & Associates LLC owned 2.83% of Steelcase worth $43,486,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in SCS. Virtu Financial LLC acquired a new stake in Steelcase during the fourth quarter worth approximately $190,000. Vanguard Group Inc. lifted its holdings in Steelcase by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 9,765,893 shares of the business services provider's stock valued at $132,035,000 after buying an additional 452,494 shares during the period. First Hawaiian Bank boosted its position in shares of Steelcase by 2.8% during the 1st quarter. First Hawaiian Bank now owns 76,004 shares of the business services provider's stock valued at $994,000 after purchasing an additional 2,082 shares in the last quarter. Green Alpha Advisors LLC grew its position in shares of Steelcase by 12.4% during the 1st quarter. Green Alpha Advisors LLC now owns 161,310 shares of the business services provider's stock worth $2,110,000 after buying an additional 17,826 shares during the period. Finally, S.A. Mason LLC increased its stake in Steelcase by 71.3% in the first quarter. S.A. Mason LLC now owns 46,358 shares of the business services provider's stock valued at $606,000 after purchasing an additional 19,288 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Insider Buying and Selling at Steelcase

In other Steelcase news, CAO Nicole Cherie Mcgrath sold 15,749 shares of the firm's stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $13.94, for a total value of $219,541.06. Following the completion of the sale, the chief accounting officer now owns 18,453 shares of the company's stock, valued at approximately $257,234.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO David C. Sylvester sold 73,184 shares of Steelcase stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $13.84, for a total value of $1,012,866.56. Following the sale, the chief financial officer now directly owns 551,592 shares of the company's stock, valued at $7,634,033.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Nicole Cherie Mcgrath sold 15,749 shares of the company's stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $13.94, for a total value of $219,541.06. Following the completion of the sale, the chief accounting officer now owns 18,453 shares of the company's stock, valued at approximately $257,234.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 160,877 shares of company stock valued at $2,228,248. Company insiders own 12.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Noble Financial assumed coverage on Steelcase in a research note on Wednesday. They issued an "outperform" rating and a $16.00 price objective for the company. Benchmark increased their price target on shares of Steelcase from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, June 21st.

Steelcase Stock Performance

NYSE SCS traded up $0.31 during trading hours on Friday, hitting $12.91. 453,686 shares of the company's stock traded hands, compared to its average volume of 781,190. Steelcase Inc. has a 52 week low of $10.29 and a 52 week high of $14.74. The company has a current ratio of 1.62, a quick ratio of 1.23 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.47 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.24 and a beta of 1.32. The business's fifty day moving average price is $13.25 and its two-hundred day moving average price is $13.07.

Steelcase (NYSE:SCS - Get Free Report) last announced its quarterly earnings results on Wednesday, September 18th. The business services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. Steelcase had a net margin of 4.02% and a return on equity of 14.41%. The business had revenue of $855.80 million for the quarter, compared to analysts' expectations of $864.17 million. During the same quarter in the previous year, the company earned $0.31 EPS. The business's quarterly revenue was up .1% compared to the same quarter last year. Equities research analysts predict that Steelcase Inc. will post 1.02 EPS for the current year.

Steelcase Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Monday, September 30th. Steelcase's dividend payout ratio is 37.74%.

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.