Schonfeld Strategic Advisors LLC Has $288,000 Holdings in Steelcase Inc. (NYSE:SCS)

Schonfeld Strategic Advisors LLC increased its stake in Steelcase Inc. (NYSE:SCS) by 48.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,400 shares of the business services provider’s stock after buying an additional 8,000 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Steelcase were worth $288,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SCS. R Squared Ltd acquired a new stake in Steelcase during the 4th quarter valued at $36,000. Quarry LP lifted its holdings in Steelcase by 162.6% during the 4th quarter. Quarry LP now owns 8,344 shares of the business services provider’s stock valued at $99,000 after purchasing an additional 5,166 shares during the last quarter. Olympiad Research LP acquired a new stake in Steelcase during the 4th quarter valued at $134,000. Boothbay Fund Management LLC acquired a new stake in Steelcase during the 4th quarter valued at $135,000. Finally, Mariner LLC acquired a new stake in Steelcase during the 4th quarter valued at $139,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Steelcase Stock Up 3.5%

SCS stock opened at $10.83 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 stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.25 and a beta of 1.15. The business’s fifty day moving average price is $10.48 and its two-hundred day moving average price is $11.67. Steelcase Inc. has a fifty-two week low of $9.32 and a fifty-two week high of $14.74.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $788.00 million for 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 quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 EPS. On average, equities analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.69%. The ex-dividend date was Monday, April 7th. Steelcase’s payout ratio is 39.60%.

Insiders Place Their Bets

In related news, VP Robert G. Krestakos sold 6,000 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $10.13, for a total value of $60,780.00. Following the transaction, the vice president now owns 139,912 shares in the company, valued at approximately $1,417,308.56. This trade represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.96% of the company’s stock.

Analysts Set New Price Targets

Separately, Sidoti raised Steelcase to a “hold” rating in a report on Friday, March 28th.

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.