Victory Capital Management Inc. Acquires 114,311 Shares of Steelcase Inc. (NYSE:SCS)

Victory Capital Management Inc. increased its holdings in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 33.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 458,414 shares of the business services provider's stock after purchasing an additional 114,311 shares during the period. Victory Capital Management Inc. owned approximately 0.40% of Steelcase worth $5,418,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC acquired a new stake in Steelcase in the third quarter valued at approximately $6,167,000. BNP Paribas Financial Markets grew its stake in Steelcase by 322.3% in the third quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider's stock valued at $7,720,000 after acquiring an additional 436,754 shares during the period. Fifth Third Bancorp grew its stake in Steelcase by 7.4% in the fourth quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider's stock valued at $42,305,000 after acquiring an additional 245,981 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Steelcase in the third quarter valued at approximately $2,273,000. Finally, Barclays PLC grew its stake in Steelcase by 203.1% in the third quarter. Barclays PLC now owns 178,002 shares of the business services provider's stock valued at $2,402,000 after acquiring an additional 119,268 shares during the period. 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 Steelcase 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 directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.96% of the stock is owned by insiders.

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Steelcase Stock Up 1.1 %

Steelcase stock traded up $0.13 during mid-day trading on Wednesday, reaching $11.06. The stock had a trading volume of 322,914 shares, compared to its average volume of 615,716. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. Steelcase Inc. has a fifty-two week low of $10.78 and a fifty-two week high of $14.74. The stock's 50-day simple moving average is $11.67 and its 200-day simple moving average is $12.49. The firm has a market capitalization of $1.26 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33.

Steelcase (NYSE:SCS - Get Free Report) last announced its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The company had revenue of $794.90 million for the quarter, compared to analysts' expectations of $796.58 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. Steelcase's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, sell-side analysts forecast that Steelcase Inc. will post 1 EPS for the current fiscal year.

About Steelcase

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.