Prudential Financial Inc. Has $6.25 Million Position in Steelcase Inc. (NYSE:SCS)

Prudential Financial Inc. lifted its holdings in Steelcase Inc. (NYSE:SCS - Free Report) by 150.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 528,658 shares of the business services provider's stock after purchasing an additional 317,700 shares during the quarter. Prudential Financial Inc. owned about 0.46% of Steelcase worth $6,249,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. R Squared Ltd bought a new stake in shares of Steelcase during the fourth quarter worth $36,000. Olympiad Research LP bought a new position in Steelcase during the 4th quarter worth about $134,000. Aigen Investment Management LP acquired a new stake in shares of Steelcase in the 4th quarter valued at about $155,000. Centiva Capital LP bought a new stake in shares of Steelcase in the third quarter valued at about $181,000. Finally, LPL Financial LLC bought a new position in shares of Steelcase during the fourth quarter worth about $191,000. 92.42% of the stock is owned by institutional investors.

Insider Transactions at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of Steelcase stock in a transaction dated Wednesday, January 22nd. The stock was 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 approximately $1,344,006.94. This trade represents a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.96% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

Separately, Sidoti raised Steelcase to a "hold" rating in a research report on Friday.

Steelcase Stock Up 3.3 %

NYSE:SCS traded up $0.37 on Tuesday, hitting $11.33. 914,947 shares of the company's stock were exchanged, compared to its average volume of 638,524. The company has a market cap of $1.29 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. The firm has a 50-day moving average price of $11.57 and a 200-day moving average price of $12.30. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. Steelcase Inc. has a 52 week low of $10.30 and a 52 week high of $14.74.

Steelcase (NYSE:SCS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.06. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm had revenue of $788.00 million during the quarter, compared to the consensus estimate of $790.90 million. During the same period last year, the company earned $0.23 earnings per share. The business's revenue was up 1.7% compared to the same quarter last year. As a group, analysts expect 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 given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Monday, April 7th. Steelcase's dividend payout ratio (DPR) is presently 39.60%.

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.