Aigen Investment Management LP Takes Position in Steelcase Inc. (NYSE:SCS)

Aigen Investment Management LP acquired a new position in shares of Steelcase Inc. (NYSE:SCS) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 13,140 shares of the business services provider’s stock, valued at approximately $155,000.

Other hedge funds have also modified their holdings of the company. R Squared Ltd purchased a new position in shares of Steelcase during the 4th quarter worth approximately $36,000. Olympiad Research LP purchased a new position in shares of Steelcase during the 4th quarter worth approximately $134,000. Centiva Capital LP purchased a new position in shares of Steelcase during the 3rd quarter worth approximately $181,000. Creative Planning increased its stake in shares of Steelcase by 8.7% during the 3rd quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock worth $182,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of Steelcase during the 4th quarter worth approximately $203,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of Steelcase stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value 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 approximately $1,344,006.94. The trade was a 4.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.96% of the stock is owned by corporate insiders.

Steelcase Trading Down 1.9 %

Shares of SCS opened at $11.51 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. The firm has a 50 day simple moving average of $11.74 and a 200-day simple moving average of $12.61. Steelcase Inc. has a 1-year low of $10.90 and a 1-year high of $14.74. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33.

Steelcase (NYSE:SCS) last released its earnings results on Wednesday, December 18th. The business services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.23 by $0.07. The firm had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $796.58 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. Steelcase’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS. Equities 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 was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a $0.10 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.40 annualized dividend and a yield of 3.48%. Steelcase’s payout ratio is currently 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.