Steelcase Inc. (NYSE:SCS) Stock Position Lifted by Sanctuary Advisors LLC

Sanctuary Advisors LLC boosted its holdings in Steelcase Inc. (NYSE:SCS - Free Report) by 36.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,997 shares of the business services provider's stock after purchasing an additional 27,392 shares during the quarter. Sanctuary Advisors LLC owned approximately 0.09% of Steelcase worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC acquired a new stake in Steelcase during the third quarter worth about $6,167,000. BNP Paribas Financial Markets increased its stake in Steelcase by 322.3% during the third quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider's stock worth $7,720,000 after acquiring an additional 436,754 shares during the last quarter. Fifth Third Bancorp increased its stake in Steelcase by 7.4% during the fourth quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider's stock worth $42,305,000 after acquiring an additional 245,981 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Steelcase by 70.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 448,530 shares of the business services provider's stock worth $6,051,000 after acquiring an additional 185,630 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in Steelcase during the third quarter worth about $2,273,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Insider Transactions at Steelcase

In other news, VP Robert G. Krestakos sold 5,000 shares of the company's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total value of $58,700.00. Following the completion of the sale, the vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.96% of the company's stock.

Steelcase Trading Up 0.1 %

NYSE:SCS traded up $0.01 on Friday, hitting $12.16. 591,130 shares of the stock were exchanged, compared to its average volume of 585,529. The stock has a market cap of $1.38 billion, a PE ratio of 12.67, a PEG ratio of 1.25 and a beta of 1.35. 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 stock has a fifty day moving average of $11.76 and a 200-day moving average of $12.68. Steelcase Inc. has a fifty-two week low of $10.90 and a fifty-two week high of $14.74.

Steelcase (NYSE:SCS - Get Free Report) last issued its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share 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 during the quarter, compared to the consensus estimate of $796.58 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The company's revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Monday, December 30th. Steelcase's payout ratio is 41.67%.

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.