Jupiter Asset Management Ltd. Sells 156,797 Shares of Steelcase Inc. (NYSE:SCS)

Jupiter Asset Management Ltd. reduced its stake in Steelcase Inc. (NYSE:SCS - Free Report) by 24.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 497,423 shares of the business services provider's stock after selling 156,797 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.44% of Steelcase worth $5,880,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its position in Steelcase by 5.4% during the third quarter. Empowered Funds LLC now owns 557,744 shares of the business services provider's stock worth $7,524,000 after purchasing an additional 28,408 shares during the period. Quest Partners LLC lifted its holdings in shares of Steelcase by 399.0% during the 3rd quarter. Quest Partners LLC now owns 30,247 shares of the business services provider's stock worth $408,000 after acquiring an additional 24,186 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in shares of Steelcase during the 3rd quarter worth approximately $2,273,000. Intech Investment Management LLC bought a new position in Steelcase in the third quarter valued at approximately $347,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Steelcase in the third quarter valued at approximately $602,000. Institutional investors and hedge funds own 92.42% of the company's stock.

Insider Activity at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.96% of the stock is owned by insiders.

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Steelcase Price Performance

NYSE SCS traded up $0.03 on Monday, hitting $11.02. 581,523 shares of the company's stock were exchanged, compared to its average volume of 618,035. Steelcase Inc. has a 52 week low of $10.78 and a 52 week high of $14.74. The stock has a 50-day moving average of $11.69 and a 200-day moving average of $12.53. 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 market cap of $1.25 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 1.25 and a beta of 1.33.

Steelcase (NYSE:SCS - Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. The business 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%. Steelcase's revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. Analysts expect that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Monday, December 30th. Steelcase's dividend 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.