AlphaQuest LLC lifted its holdings in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 111.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,098 shares of the business services provider's stock after acquiring an additional 33,851 shares during the period. AlphaQuest LLC owned 0.06% of Steelcase worth $758,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Steelcase during the 4th quarter worth about $36,000. Olympiad Research LP acquired a new position in Steelcase during the fourth quarter worth approximately $134,000. Aigen Investment Management LP acquired a new position in Steelcase during the fourth quarter worth approximately $155,000. Centiva Capital LP acquired a new position in Steelcase during the third quarter worth approximately $181,000. Finally, Creative Planning increased its position in Steelcase by 8.7% during the third quarter. Creative Planning now owns 13,470 shares of the business services provider's stock worth $182,000 after buying an additional 1,075 shares during the period. Institutional investors and hedge funds own 92.42% of the company's stock.
Steelcase Trading Down 1.4 %
SCS opened at $11.34 on Wednesday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. Steelcase Inc. has a 52 week low of $10.90 and a 52 week high of $14.74. The business's 50 day moving average is $11.73 and its two-hundred day moving average is $12.59. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48.
Steelcase (NYSE:SCS - Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.23 by $0.07. The company had revenue of $794.90 million for the quarter, compared to analyst estimates of $796.58 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm's revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 earnings per share. On average, research analysts predict that Steelcase Inc. will post 1 EPS for the current year.
Steelcase Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a $0.10 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.53%. Steelcase's dividend payout ratio (DPR) is currently 41.67%.
Insider Buying and Selling at Steelcase
In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of Steelcase stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total value of $58,700.00. Following the transaction, the vice president now directly owns 114,481 shares in the company, valued at approximately $1,344,006.94. This trade represents a 4.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.96% of the company's stock.
About Steelcase
(
Free Report)
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.
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