Teacher Retirement System of Texas boosted its position in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 109.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 775,177 shares of the business services provider's stock after purchasing an additional 405,614 shares during the period. Teacher Retirement System of Texas owned approximately 0.68% of Steelcase worth $9,163,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd acquired a new position in Steelcase in the fourth quarter valued at approximately $36,000. Olympiad Research LP purchased a new position in shares of Steelcase during the 4th quarter worth $134,000. Aigen Investment Management LP acquired a new stake in shares of Steelcase during the 4th quarter worth about $155,000. Centiva Capital LP purchased a new stake in Steelcase in the 3rd quarter valued at about $181,000. Finally, Ieq Capital LLC purchased a new position in Steelcase during the fourth quarter worth about $203,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.
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 stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the completion of the sale, the vice president now directly owns 114,481 shares of the company's stock, valued at $1,344,006.94. This represents a 4.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.96% of the stock is owned by company insiders.
Steelcase Trading Up 6.6 %
Steelcase stock traded up $0.70 during trading on Thursday, hitting $11.30. The company had a trading volume of 1,889,878 shares, compared to its average volume of 614,846. 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 company's 50 day simple moving average is $11.61 and its 200-day simple moving average is $12.37. Steelcase Inc. has a 1-year low of $10.30 and a 1-year high of $14.74. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33.
Steelcase (NYSE:SCS - Get Free Report) last announced its quarterly earnings data 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 net margin of 3.63% and a return on equity of 14.20%. The firm had revenue of $788.00 million during the quarter, compared to analysts' expectations of $790.90 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. The business's quarterly 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 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Monday, April 7th. Steelcase's dividend payout ratio (DPR) is 41.67%.
Steelcase Company Profile
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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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