Semanteon Capital Management LP Buys New Position in Steelcase Inc. (NYSE:SCS)

Semanteon Capital Management LP purchased a new stake in shares of Steelcase Inc. (NYSE:SCS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 34,822 shares of the business services provider's stock, valued at approximately $412,000.

Several other large investors have also made changes to their positions in SCS. R Squared Ltd purchased a new stake in Steelcase during the 4th quarter valued at approximately $36,000. Olympiad Research LP purchased a new stake in shares of Steelcase in the fourth quarter worth about $134,000. Aigen Investment Management LP bought a new position in Steelcase during the fourth quarter valued at approximately $155,000. Centiva Capital LP purchased a new position in Steelcase during the 3rd quarter valued at approximately $181,000. Finally, Ieq Capital LLC bought a new stake in Steelcase in the 4th quarter worth approximately $203,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Steelcase Price Performance

Shares of SCS stock traded up $0.04 on Wednesday, reaching $10.62. The company's stock had a trading volume of 1,130,404 shares, compared to its average volume of 611,337. The stock's fifty day simple moving average is $11.63 and its 200-day simple moving average is $12.38. Steelcase Inc. has a 1 year low of $10.31 and a 1 year high of $14.74. The company 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 1.33. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48.

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Steelcase (NYSE:SCS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $790.90 million. During the same period in the prior year, the company earned $0.23 EPS. The business's revenue was up 1.7% compared to the same quarter last year. Analysts forecast that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Insider Buying and Selling at Steelcase

In related 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 owns 114,481 shares in the company, valued at $1,344,006.94. The trade was a 4.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 12.96% of the company's stock.

Steelcase Company 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.