63,634 Shares in Steelcase Inc. (NYSE:SCS) Acquired by Integrated Quantitative Investments LLC

Integrated Quantitative Investments LLC acquired a new stake in shares of Steelcase Inc. (NYSE:SCS) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 63,634 shares of the business services provider’s stock, valued at approximately $752,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Diversified Trust Co grew its stake in Steelcase by 2.9% during the fourth quarter. Diversified Trust Co now owns 31,801 shares of the business services provider’s stock valued at $376,000 after acquiring an additional 886 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Steelcase by 0.6% in the fourth quarter. Rhumbline Advisers now owns 155,013 shares of the business services provider’s stock worth $1,832,000 after purchasing an additional 932 shares during the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Steelcase by 0.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 284,800 shares of the business services provider’s stock worth $3,366,000 after buying an additional 1,500 shares in the last quarter. Franklin Resources Inc. boosted its stake in Steelcase by 2.9% during the third quarter. Franklin Resources Inc. now owns 99,574 shares of the business services provider’s stock valued at $1,292,000 after buying an additional 2,791 shares during the last quarter. Finally, R Squared Ltd purchased a new position in Steelcase during the 4th quarter valued at approximately $36,000. Institutional investors own 92.42% of the company’s stock.

Steelcase Stock Down 0.4 %

Shares of NYSE SCS opened at $10.69 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a 12-month low of $10.25 and a 12-month high of $14.74. The firm’s 50-day moving average price is $11.54 and its 200-day moving average price is $12.26. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 1.25 and a beta of 1.33.

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

Steelcase Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Monday, April 7th. Steelcase’s dividend payout ratio is currently 39.60%.

Insider Transactions at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the completion of the sale, the vice president now directly owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This trade represents a 4.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.96% of the company’s stock.

Analyst Ratings Changes

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

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.