Barclays PLC Grows Position in Steelcase Inc. (NYSE:SCS)

Barclays PLC increased its position in Steelcase Inc. (NYSE:SCS) by 15.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 205,985 shares of the business services provider’s stock after purchasing an additional 27,983 shares during the period. Barclays PLC owned 0.18% of Steelcase worth $2,435,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SCS. R Squared Ltd bought a new position in shares of Steelcase in the 4th quarter worth about $36,000. Olympiad Research LP purchased a new stake in Steelcase in the fourth quarter worth about $134,000. Aigen Investment Management LP bought a new position in shares of Steelcase during the fourth quarter valued at approximately $155,000. LPL Financial LLC purchased a new position in shares of Steelcase during the fourth quarter valued at approximately $191,000. Finally, Ieq Capital LLC bought a new stake in shares of Steelcase in the 4th quarter worth approximately $203,000. Institutional investors own 92.42% of the company’s stock.

Insider Activity

In related news, VP Robert G. Krestakos sold 6,000 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $10.13, for a total transaction of $60,780.00. Following the completion of the sale, the vice president now owns 139,912 shares in the company, valued at approximately $1,417,308.56. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.96% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Sidoti upgraded Steelcase to a “hold” rating in a research note on Friday, March 28th.

Steelcase Trading Down 0.8 %

NYSE:SCS opened at $9.93 on Thursday. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 1.25 and a beta of 1.12. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average price is $10.78 and its 200-day moving average price is $11.83. Steelcase Inc. has a 52 week low of $9.32 and a 52 week high of $14.74.

Steelcase (NYSE:SCS) last issued its earnings results on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The business had revenue of $788.00 million for the quarter, compared to the consensus estimate of $790.90 million. During the same period last year, the business posted $0.23 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts forecast that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.03%. Steelcase’s dividend payout ratio is presently 39.60%.

Steelcase Company 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.