Mirae Asset Global Investments Co. Ltd. Has $564,000 Stock Holdings in Steelcase Inc. (NYSE:SCS)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Steelcase Inc. (NYSE:SCS) by 18.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,710 shares of the business services provider’s stock after buying an additional 6,415 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Steelcase were worth $564,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Steelcase by 219.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,828 shares of the business services provider’s stock worth $65,000 after purchasing an additional 4,006 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of Steelcase in the 3rd quarter worth $88,000. Strs Ohio bought a new position in shares of Steelcase in the 3rd quarter worth $102,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Steelcase in the 3rd quarter worth $111,000. Finally, QRG Capital Management Inc. bought a new position in shares of Steelcase in the 3rd quarter worth $113,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Separately, StockNews.com upgraded Steelcase from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 29th.

Steelcase Stock Performance

SCS stock opened at $11.92 on Friday. The business’s 50-day moving average price is $12.72 and its two-hundred day moving average price is $12.43. The company has a current ratio of 1.58, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.37 billion, a PE ratio of 17.53, a P/E/G ratio of 1.35 and a beta of 1.35. Steelcase Inc. has a 1-year low of $6.39 and a 1-year high of $14.54.

Steelcase (NYSE:SCS) last posted its earnings results on Wednesday, March 20th. The business services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $775.20 million for the quarter, compared to analyst estimates of $780.25 million. Steelcase had a return on equity of 12.87% and a net margin of 2.57%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. As a group, research analysts forecast that Steelcase Inc. will post 0.92 earnings per share for the current year.

Steelcase Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, April 2nd. This represents a $0.40 annualized dividend and a yield of 3.36%. Steelcase’s dividend payout ratio is presently 58.82%.

Steelcase 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.