Gallacher Capital Management LLC Purchases 12,748 Shares of Steelcase Inc. (NYSE:SCS)

Gallacher Capital Management LLC lifted its position in shares of Steelcase Inc. (NYSE:SCS) by 34.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,670 shares of the business services provider’s stock after purchasing an additional 12,748 shares during the period. Gallacher Capital Management LLC’s holdings in Steelcase were worth $587,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its position in shares of Steelcase by 3.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 424,802 shares of the business services provider’s stock worth $5,021,000 after buying an additional 12,846 shares in the last quarter. Pzena Investment Management LLC boosted its position in 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 worth $63,513,000 after purchasing an additional 133,893 shares during the last quarter. AlphaQuest LLC grew its stake in Steelcase by 111.9% in the 4th quarter. AlphaQuest LLC now owns 64,098 shares of the business services provider’s stock valued at $758,000 after purchasing an additional 33,851 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Steelcase during the 4th quarter valued at $155,000. Finally, Victory Capital Management Inc. increased its position in shares of Steelcase by 33.2% during the 4th quarter. Victory Capital Management Inc. now owns 458,414 shares of the business services provider’s stock valued at $5,418,000 after purchasing an additional 114,311 shares during the last quarter. 92.42% of the stock is owned by institutional investors.

Insider Buying and Selling at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total value of $58,700.00. Following the sale, the vice president now directly owns 114,481 shares in the company, valued at $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 12.96% of the company’s stock.

Steelcase Price Performance

Shares of NYSE:SCS opened at $10.97 on Friday. The company has a market capitalization of $1.25 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. The company’s 50-day moving average is $11.69 and its 200 day moving average is $12.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. Steelcase Inc. has a fifty-two week low of $10.78 and a fifty-two week high of $14.74.

Steelcase (NYSE:SCS) last released its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share 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 firm had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $796.58 million. During the same period in the previous year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a $0.10 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.64%. Steelcase’s dividend payout ratio (DPR) is presently 41.67%.

About Steelcase

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.