Segall Bryant & Hamill LLC Invests $2.27 Million in Steelcase Inc. (NYSE:SCS)

Segall Bryant & Hamill LLC acquired a new stake in shares of Steelcase Inc. (NYSE:SCS) during the third quarter, according to its most recent filing with the SEC. The fund acquired 168,471 shares of the business services provider’s stock, valued at approximately $2,273,000.

Other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its holdings in Steelcase by 8.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 12,017 shares of the business services provider’s stock valued at $153,000 after buying an additional 897 shares in the last quarter. Creative Planning grew its stake in Steelcase by 8.7% during the third quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock valued at $182,000 after acquiring an additional 1,075 shares in the last quarter. Alhambra Investment Management LLC increased its holdings in Steelcase by 5.5% during the 2nd quarter. Alhambra Investment Management LLC now owns 24,226 shares of the business services provider’s stock worth $314,000 after acquiring an additional 1,257 shares during the period. ProShare Advisors LLC lifted its stake in Steelcase by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 16,656 shares of the business services provider’s stock worth $218,000 after purchasing an additional 1,311 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Steelcase by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,292 shares of the business services provider’s stock valued at $626,000 after purchasing an additional 1,426 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Steelcase Stock Up 1.8 %

Shares of NYSE SCS opened at $13.27 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.23 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average of $12.99 and a 200-day moving average of $13.16. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.30 and a beta of 1.34. Steelcase Inc. has a 12 month low of $11.50 and a 12 month high of $14.74.

Steelcase (NYSE:SCS) last released its quarterly earnings results on Wednesday, September 18th. The business services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $855.80 million during the quarter, compared to analysts’ expectations of $864.17 million. Steelcase had a net margin of 4.02% and a return on equity of 14.41%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. Sell-side analysts expect that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.10 per share. The ex-dividend date was Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 3.01%. Steelcase’s payout ratio is 37.74%.

Analyst Ratings Changes

Separately, Noble Financial initiated coverage on Steelcase in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $16.00 price objective on the stock.

Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $13.11, for a total value of $52,440.00. Following the completion of the sale, the vice president now owns 119,481 shares of the company’s stock, valued at approximately $1,566,395.91. This represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.96% of the company’s stock.

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.