Steelcase Inc. (NYSE:SCS) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its stake in Steelcase Inc. (NYSE:SCS - Free Report) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,105 shares of the business services provider's stock after selling 32,769 shares during the quarter. Sei Investments Co. owned approximately 0.18% of Steelcase worth $2,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Steelcase in the 4th quarter valued at $36,000. Olympiad Research LP bought a new position in Steelcase in the fourth quarter valued at about $134,000. Aigen Investment Management LP bought a new stake in shares of Steelcase during the 4th quarter valued at $155,000. Centiva Capital LP acquired a new position in Steelcase during the third quarter valued at approximately $181,000. Finally, Ieq Capital LLC bought a new stake in shares of Steelcase in the fourth quarter worth about $203,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Steelcase Trading Up 9.0 %

NYSE:SCS traded up $0.88 on Wednesday, reaching $10.62. 1,193,354 shares of the stock traded hands, compared to its average volume of 641,571. The company's 50 day moving average is $11.39 and its 200-day moving average is $12.15. Steelcase Inc. has a 1-year low of $9.53 and a 1-year high of $14.74. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.12.

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

Steelcase Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Monday, April 7th. Steelcase's payout ratio is currently 39.60%.

Insider Activity at Steelcase

In other news, VP Robert G. Krestakos sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total transaction 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. The trade was a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.96% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Sidoti upgraded Steelcase to a "hold" rating in a report on Friday, March 28th.

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.