Segall Bryant & Hamill LLC Buys Shares of 168,471 Steelcase Inc. (NYSE:SCS)

Segall Bryant & Hamill LLC acquired a new stake in shares of Steelcase Inc. (NYSE:SCS - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 168,471 shares of the business services provider's stock, valued at approximately $2,273,000. Segall Bryant & Hamill LLC owned approximately 0.15% of Steelcase at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC grew its position in Steelcase by 8.5% in the first quarter. ProShare Advisors LLC now owns 16,656 shares of the business services provider's stock worth $218,000 after acquiring an additional 1,311 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Steelcase by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 10,153,754 shares of the business services provider's stock valued at $132,811,000 after buying an additional 387,861 shares in the last quarter. Lazard Asset Management LLC lifted its position in Steelcase by 28.4% in the 1st quarter. Lazard Asset Management LLC now owns 34,135 shares of the business services provider's stock worth $445,000 after buying an additional 7,557 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Steelcase by 4.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 81,024 shares of the business services provider's stock worth $1,060,000 after buying an additional 3,293 shares in the last quarter. Finally, Caxton Associates LP grew its position in Steelcase by 273.3% during the first quarter. Caxton Associates LP now owns 74,266 shares of the business services provider's stock valued at $971,000 after acquiring an additional 54,369 shares during the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Robert G. Krestakos sold 4,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $13.11, for a total transaction of $52,440.00. Following the sale, the vice president now owns 119,481 shares of the company's stock, valued at $1,566,395.91. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.96% of the company's stock.

Steelcase Trading Up 1.8 %

Steelcase stock traded up $0.23 during trading hours on Friday, reaching $13.27. The company had a trading volume of 658,001 shares, compared to its average volume of 493,745. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.30 and a beta of 1.34. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.62 and a quick ratio of 1.23. The company has a 50-day moving average price of $12.99 and a 200 day moving average price of $13.16. Steelcase Inc. has a 12-month low of $11.50 and a 12-month high of $14.74.

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

Steelcase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.10 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.01%. Steelcase's payout ratio is 37.74%.

Analyst Upgrades and Downgrades

Separately, Noble Financial started coverage on shares of Steelcase in a research note on Wednesday, October 9th. They issued an "outperform" rating and a $16.00 price objective for the company.

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.