Steelcase Inc. (NYSE:SCS) Shares Sold by S.A. Mason LLC

S.A. Mason LLC lessened its holdings in shares of Steelcase Inc. (NYSE:SCS) by 51.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,070 shares of the business services provider’s stock after selling 28,330 shares during the period. S.A. Mason LLC’s holdings in Steelcase were worth $366,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in Steelcase during the first quarter worth approximately $33,000. Captrust Financial Advisors raised its stake in Steelcase by 179.6% during the 1st quarter. Captrust Financial Advisors now owns 4,141 shares of the business services provider’s stock worth $49,000 after acquiring an additional 2,660 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Steelcase by 208.9% during the first quarter. Tower Research Capital LLC TRC now owns 6,091 shares of the business services provider’s stock worth $51,000 after purchasing an additional 4,119 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Steelcase by 219.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,828 shares of the business services provider’s stock valued at $65,000 after buying an additional 4,006 shares during the last quarter. Finally, Point72 Middle East FZE acquired a new position in shares of Steelcase in the 4th quarter valued at $65,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Steelcase from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 21st.

Steelcase Stock Up 1.3 %

SCS opened at $12.87 on Thursday. The business has a 50 day moving average price of $12.85 and a two-hundred day moving average price of $12.11. Steelcase Inc. has a 52 week low of $6.39 and a 52 week high of $14.54. The company has a market cap of $1.47 billion, a PE ratio of 18.93, a P/E/G ratio of 1.38 and a beta of 1.35. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.51.

Steelcase (NYSE:SCS) last released its earnings results on Wednesday, March 20th. The business services provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. Steelcase had a net margin of 2.57% and a return on equity of 13.00%. The company had revenue of $775.20 million during the quarter, compared to analysts’ expectations of $780.25 million. During the same quarter last year, the business earned $0.19 EPS. The business’s revenue was down 3.3% on a year-over-year basis. As a group, research analysts anticipate that Steelcase Inc. will post 0.92 EPS for the current year.

Steelcase Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Wednesday, April 3rd will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, April 2nd. This represents a $0.40 annualized dividend and a yield of 3.11%. Steelcase’s dividend payout ratio is presently 58.82%.

Insider Transactions at Steelcase

In related news, VP Robert G. Krestakos sold 4,000 shares of Steelcase stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $12.61, for a total transaction of $50,440.00. Following the completion of the transaction, the vice president now directly owns 108,081 shares in the company, valued at approximately $1,362,901.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.72% of the company’s stock.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products in the United States and internationally. It operates through Americas, EMEA, and Other 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, and mobile power and screens.