Mariner LLC Invests $139,000 in Steelcase Inc. (NYSE:SCS)

Mariner LLC acquired a new stake in shares of Steelcase Inc. (NYSE:SCS) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 11,791 shares of the business services provider’s stock, valued at approximately $139,000.

A number of other hedge funds also recently bought and sold shares of the business. Teacher Retirement System of Texas increased its holdings in shares of Steelcase by 109.8% in the fourth quarter. Teacher Retirement System of Texas now owns 775,177 shares of the business services provider’s stock valued at $9,163,000 after purchasing an additional 405,614 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Steelcase in the 4th quarter valued at $3,769,000. Prudential Financial Inc. increased its stake in shares of Steelcase by 150.6% in the 4th quarter. Prudential Financial Inc. now owns 528,658 shares of the business services provider’s stock worth $6,249,000 after acquiring an additional 317,700 shares during the last quarter. Norges Bank purchased a new position in shares of Steelcase during the 4th quarter worth $3,279,000. Finally, American Century Companies Inc. boosted its position in shares of Steelcase by 10.0% during the 4th quarter. American Century Companies Inc. now owns 3,024,828 shares of the business services provider’s stock valued at $35,753,000 after acquiring an additional 275,369 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Steelcase Trading Up 6.0 %

SCS opened at $10.51 on Friday. The stock has a market capitalization of $1.20 billion, a PE ratio of 10.94, a P/E/G ratio of 1.25 and a beta of 1.15. Steelcase Inc. has a one year low of $9.32 and a one year high of $14.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. The business’s 50 day moving average price is $10.52 and its 200 day moving average price is $11.71.

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

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.40 annualized dividend and a dividend yield of 3.81%. Steelcase’s dividend payout ratio is currently 39.60%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, VP Robert G. Krestakos sold 6,000 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $10.13, for a total transaction of $60,780.00. Following the transaction, the vice president now owns 139,912 shares of the company’s stock, valued at approximately $1,417,308.56. This represents a 4.11 % 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 currently owned by corporate insiders.

About Steelcase

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.