Sanctuary Advisors LLC grew its stake in shares of Steelcase Inc. (NYSE:SCS – Free Report) by 32.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,605 shares of the business services provider’s stock after buying an additional 18,459 shares during the period. Sanctuary Advisors LLC owned 0.07% of Steelcase worth $990,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in SCS. DekaBank Deutsche Girozentrale increased its position in Steelcase by 8.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 12,017 shares of the business services provider’s stock worth $153,000 after purchasing an additional 897 shares in the last quarter. Creative Planning raised its stake in shares of Steelcase by 8.7% in the 3rd 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 during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Steelcase by 3.0% during 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 acquiring an additional 1,426 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Steelcase by 4.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 40,938 shares of the business services provider’s stock worth $552,000 after purchasing an additional 1,561 shares during the period. Finally, Arjuna Capital increased its holdings in Steelcase by 1.1% in the 3rd quarter. Arjuna Capital now owns 152,400 shares of the business services provider’s stock valued at $2,056,000 after purchasing an additional 1,674 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, VP Robert G. Krestakos sold 4,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $13.11, for a total transaction of $52,440.00. Following the completion of the transaction, the vice president now owns 119,481 shares in the company, valued at approximately $1,566,395.91. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.96% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Research Report on Steelcase
Steelcase Stock Performance
Steelcase stock opened at $11.74 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.62 and a quick ratio of 1.23. The firm’s fifty day moving average price is $13.00 and its 200 day moving average price is $13.15. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35. Steelcase Inc. has a 12-month low of $11.50 and a 12-month high of $14.74.
Steelcase (NYSE:SCS – Get Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The business had revenue of $794.90 million during the quarter, compared to analyst estimates of $796.58 million. Steelcase had a net margin of 4.02% and a return on equity of 14.41%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, research analysts forecast that Steelcase Inc. will post 1 EPS for the current fiscal year.
Steelcase Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.41%. Steelcase’s 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.
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