Trexquant Investment LP grew its position in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 167.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 236,366 shares of the business services provider's stock after buying an additional 147,908 shares during the quarter. Trexquant Investment LP owned 0.21% of Steelcase worth $2,794,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Steelcase during the 4th quarter valued at $36,000. Olympiad Research LP bought a new stake in Steelcase in the 4th quarter worth about $134,000. Aigen Investment Management LP bought a new stake in Steelcase in the 4th quarter worth about $155,000. Centiva Capital LP bought a new position in Steelcase during the 3rd quarter valued at about $181,000. Finally, LPL Financial LLC purchased a new stake in shares of Steelcase during the 4th quarter valued at about $191,000. Institutional investors own 92.42% of the company's stock.
Steelcase Stock Performance
Steelcase stock traded down $0.01 during mid-day trading on Friday, reaching $10.20. 830,518 shares of the stock traded hands, compared to its average volume of 643,415. Steelcase Inc. has a 12-month low of $9.58 and a 12-month high of $14.74. The business's 50-day moving average is $11.35 and its 200-day moving average is $12.11. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. The stock has a market capitalization of $1.16 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.25 and a beta of 1.12.
Steelcase (NYSE:SCS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.06. The business had revenue of $788.00 million during the quarter, compared to analysts' expectations of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The firm's revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 earnings per share. As a group, sell-side analysts predict that Steelcase Inc. will post 1 EPS for the current fiscal year.
Steelcase Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, April 7th. This represents a $0.40 annualized dividend and a yield of 3.92%. Steelcase's dividend payout ratio (DPR) is presently 39.60%.
Wall Street Analyst Weigh In
Separately, Sidoti raised shares of Steelcase to a "hold" rating in a report on Friday, March 28th.
Read Our Latest Stock Analysis on Steelcase
Insider Buying and Selling at Steelcase
In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the company'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 value of $58,700.00. Following the completion of the transaction, the vice president now directly owns 114,481 shares in the company, valued at $1,344,006.94. This represents a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.96% of the stock is currently owned by corporate insiders.
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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