Shell Asset Management Co. lessened its position in shares of Steelcase Inc. (NYSE:SCS – Get Rating) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,600 shares of the business services provider’s stock after selling 5,036 shares during the quarter. Shell Asset Management Co.’s holdings in Steelcase were worth $425,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Gladius Capital Management LP acquired a new stake in Steelcase in the 4th quarter valued at $107,000. GSA Capital Partners LLP acquired a new stake in Steelcase in the 4th quarter valued at $147,000. Truist Financial Corp boosted its stake in Steelcase by 10.4% in the 1st quarter. Truist Financial Corp now owns 15,489 shares of the business services provider’s stock valued at $185,000 after buying an additional 1,454 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Steelcase by 71.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 17,840 shares of the business services provider’s stock valued at $220,000 after buying an additional 7,440 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Steelcase by 67.3% in the 4th quarter. ProShare Advisors LLC now owns 19,004 shares of the business services provider’s stock valued at $222,000 after purchasing an additional 7,642 shares during the last quarter. Institutional investors and hedge funds own 94.65% of the company’s stock.
Steelcase Trading Up 0.6 %
Shares of SCS opened at $11.32 on Friday. The stock has a fifty day moving average price of $11.16 and a two-hundred day moving average price of $11.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.93 and a current ratio of 1.56. Steelcase Inc. has a 52-week low of $10.19 and a 52-week high of $14.38. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 66.59 and a beta of 1.16.
Steelcase Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, July 18th. Stockholders of record on Thursday, July 7th were given a dividend of $0.145 per share. The ex-dividend date was Wednesday, July 6th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 5.12%. Steelcase’s payout ratio is currently 341.20%.
Insider Transactions at Steelcase
In other news, CAO Lizbeth S. O’shaughnessy sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $11.26, for a total transaction of $337,800.00. Following the completion of the sale, the chief accounting officer now owns 288,388 shares in the company, valued at $3,247,248.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 12.77% of the stock is currently owned by corporate insiders.
Steelcase Inc provides a portfolio of furniture and architectural products in the United States and internationally. It operates through Americas, EMEA, and Other 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, and mobile power and screens.
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