Pzena Investment Management LLC Boosts Stock Position in Steelcase Inc. (NYSE:SCS)

Pzena Investment Management LLC increased its stake in Steelcase Inc. (NYSE:SCS - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,373,342 shares of the business services provider's stock after acquiring an additional 133,893 shares during the period. Pzena Investment Management LLC owned about 4.73% of Steelcase worth $63,513,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Steelcase in the 4th quarter worth approximately $36,000. Olympiad Research LP bought a new position in shares of Steelcase in the fourth quarter worth approximately $134,000. Aigen Investment Management LP purchased a new position in shares of Steelcase in the fourth quarter worth $155,000. Centiva Capital LP bought a new stake in Steelcase during the 3rd quarter valued at $181,000. Finally, Creative Planning raised its holdings in 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 during the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Steelcase Trading Down 2.4 %

Steelcase stock traded down $0.27 during trading hours on Thursday, reaching $10.82. The stock had a trading volume of 919,961 shares, compared to its average volume of 622,390. The company has a fifty day simple moving average of $11.72 and a 200-day simple moving average of $12.58. Steelcase Inc. has a 52 week low of $10.78 and a 52 week high of $14.74. The stock has a market cap of $1.23 billion, a PE ratio of 11.27, a PEG ratio of 1.25 and a beta of 1.33. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21.

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Steelcase (NYSE:SCS - Get Free Report) last posted its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.07. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The company had revenue of $794.90 million for the quarter, compared to analysts' expectations of $796.58 million. During the same period last year, the firm earned $0.30 earnings per share. Steelcase's quarterly revenue was up 2.2% on a year-over-year basis. Analysts forecast that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date was Monday, December 30th. Steelcase's payout ratio is currently 41.67%.

Insider Buying and Selling at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value 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 $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 Securities & Exchange Commission, which is available at this link. Insiders own 12.96% of the company's stock.

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.