Segall Bryant & Hamill LLC Raises Holdings in Steelcase Inc. (NYSE:SCS)

Segall Bryant & Hamill LLC increased its position in Steelcase Inc. (NYSE:SCS - Free Report) by 38.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 232,466 shares of the business services provider's stock after buying an additional 63,995 shares during the period. Segall Bryant & Hamill LLC owned 0.20% of Steelcase worth $2,748,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SCS. Prudential Financial Inc. raised its holdings in shares of Steelcase by 150.6% during the 4th 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 in the last quarter. Cannon Global Investment Management LLC bought a new position in Steelcase during the fourth quarter valued at $215,000. LPL Financial LLC purchased a new position in shares of Steelcase in the 4th quarter worth $191,000. KLP Kapitalforvaltning AS bought a new stake in shares of Steelcase in the 4th quarter worth about $643,000. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of Steelcase by 0.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 284,800 shares of the business services provider's stock worth $3,366,000 after buying an additional 1,500 shares during the last quarter. 92.42% of the stock is owned by institutional investors.

Steelcase Trading Up 3.3 %

SCS traded up $0.37 during trading on Tuesday, reaching $11.33. The company had a trading volume of 914,947 shares, compared to its average volume of 638,524. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. The business has a 50 day simple moving average of $11.57 and a 200-day simple moving average of $12.30. The stock has a market cap of $1.29 billion, a P/E ratio of 11.80, a PEG ratio of 1.25 and a beta of 1.33. Steelcase Inc. has a 52 week low of $10.30 and a 52 week high of $14.74.

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Steelcase (NYSE:SCS - Get Free Report) last released its earnings results 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 firm had revenue of $788.00 million during the quarter, compared to analyst estimates of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business's revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. On average, equities analysts anticipate that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid 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 3.53%. Steelcase's dividend payout ratio is 39.60%.

Wall Street Analyst Weigh In

Separately, Sidoti upgraded Steelcase to a "hold" rating in a research report on Friday.

Insider Buying and Selling

In related news, VP Robert G. Krestakos sold 5,000 shares of the firm's 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 transaction, the vice president now owns 114,481 shares of the company's stock, valued at $1,344,006.94. This trade represents a 4.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.96% of the stock is owned by corporate insiders.

About Steelcase

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.