Counterpoint Mutual Funds LLC Has $303,000 Stock Position in Steelcase Inc. (NYSE:SCS)

Counterpoint Mutual Funds LLC reduced its stake in shares of Steelcase Inc. (NYSE:SCS) by 35.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,628 shares of the business services provider’s stock after selling 13,902 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Steelcase were worth $303,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SCS. Hotchkis & Wiley Capital Management LLC acquired a new stake in Steelcase during the 3rd quarter worth approximately $6,167,000. BNP Paribas Financial Markets raised its holdings in Steelcase by 322.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider’s stock worth $7,720,000 after buying an additional 436,754 shares during the period. Fifth Third Bancorp raised its holdings in shares of Steelcase by 7.4% in the fourth quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider’s stock valued at $42,305,000 after purchasing an additional 245,981 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Steelcase in the third quarter valued at approximately $2,273,000. Finally, Pzena Investment Management LLC raised its holdings in shares of Steelcase by 2.6% in the fourth quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider’s stock valued at $63,513,000 after purchasing an additional 133,893 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Robert G. Krestakos sold 5,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value of $58,700.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.96% of the stock is owned by corporate insiders.

Steelcase Price Performance

NYSE SCS opened at $10.92 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a 12-month low of $10.78 and a 12-month high of $14.74. The company has a market capitalization of $1.24 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. The firm’s 50 day moving average is $11.67 and its 200-day moving average is $12.49.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company had revenue of $794.90 million for the quarter, compared to the consensus estimate of $796.58 million. During the same period last year, the company earned $0.30 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

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.