Steelcase Inc. (NYSE:SCS) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its position in shares of Steelcase Inc. (NYSE:SCSFree Report) by 74.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 18,993 shares of the business services provider’s stock after selling 54,602 shares during the period. Quantbot Technologies LP’s holdings in Steelcase were worth $212,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SCS. Point72 Hong Kong Ltd acquired a new stake in Steelcase during the 1st quarter valued at $33,000. Captrust Financial Advisors increased its stake in shares of Steelcase by 179.6% in the first quarter. Captrust Financial Advisors now owns 4,141 shares of the business services provider’s stock worth $49,000 after acquiring an additional 2,660 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Steelcase by 208.9% in the first quarter. Tower Research Capital LLC TRC now owns 6,091 shares of the business services provider’s stock worth $51,000 after acquiring an additional 4,119 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Steelcase by 219.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,828 shares of the business services provider’s stock worth $65,000 after acquiring an additional 4,006 shares during the last quarter. Finally, Point72 Middle East FZE acquired a new position in shares of Steelcase in the fourth quarter worth $65,000. 69.51% of the stock is owned by institutional investors and hedge funds.

Steelcase Trading Up 0.6 %

NYSE SCS opened at $12.94 on Friday. The company has a market capitalization of $1.48 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.65 and a beta of 1.35. Steelcase Inc. has a 1-year low of $6.39 and a 1-year high of $14.54. The firm’s fifty day simple moving average is $12.91 and its 200-day simple moving average is $11.14. The company has a current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.51.

Steelcase (NYSE:SCSGet Free Report) last issued its quarterly earnings data on Wednesday, December 20th. 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 firm had revenue of $777.90 million during the quarter, compared to analysts’ expectations of $796.35 million. Steelcase had a net margin of 2.37% and a return on equity of 12.57%. Steelcase’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share. As a group, sell-side analysts anticipate that Steelcase Inc. will post 0.78 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Thursday, January 4th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Wednesday, January 3rd. Steelcase’s dividend payout ratio is presently 63.49%.

Insider Buying and Selling

In related news, VP Robert G. Krestakos sold 3,800 shares of the company’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $13.83, for a total value of $52,554.00. Following the completion of the sale, the vice president now directly owns 110,489 shares in the company, valued at $1,528,062.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Steelcase news, CFO David C. Sylvester sold 85,000 shares of the company’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $13.87, for a total transaction of $1,178,950.00. Following the completion of the sale, the chief financial officer now directly owns 570,809 shares in the company, valued at $7,917,120.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert G. Krestakos sold 3,800 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $13.83, for a total transaction of $52,554.00. Following the sale, the vice president now owns 110,489 shares of the company’s stock, valued at $1,528,062.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,592 shares of company stock worth $1,256,502. Corporate insiders own 12.72% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Steelcase from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 26th.

Check Out Our Latest Stock Analysis on SCS

About Steelcase

(Free Report)

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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Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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