AlphaQuest LLC Boosts Stake in Steelcase Inc. (NYSE:SCS)

AlphaQuest LLC boosted its position in shares of Steelcase Inc. (NYSE:SCS) by 111.9% during the fourth quarter, Holdings Channel reports. The firm owned 64,098 shares of the business services provider’s stock after buying an additional 33,851 shares during the quarter. AlphaQuest LLC’s holdings in Steelcase were worth $758,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SCS. Hotchkis & Wiley Capital Management LLC purchased a new stake in Steelcase during the third quarter worth $6,167,000. BNP Paribas Financial Markets boosted its position in Steelcase by 322.3% during the third quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider’s stock worth $7,720,000 after purchasing an additional 436,754 shares in the last quarter. Fifth Third Bancorp boosted its position in Steelcase by 7.4% during the fourth quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider’s stock worth $42,305,000 after purchasing an additional 245,981 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Steelcase during the third quarter worth $2,273,000. Finally, Barclays PLC boosted its position in Steelcase by 203.1% during the third quarter. Barclays PLC now owns 178,002 shares of the business services provider’s stock worth $2,402,000 after purchasing an additional 119,268 shares in the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Steelcase

In other 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 completion of the transaction, the vice president now directly owns 114,481 shares of the company’s stock, valued at $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 12.96% of the company’s stock.

Steelcase Stock Down 1.4 %

SCS opened at $11.34 on Wednesday. The business’s fifty day moving average is $11.73 and its two-hundred day moving average is $12.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.25 and a beta of 1.33. Steelcase Inc. has a one year low of $10.90 and a one year high of $14.74.

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

Steelcase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders 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 3.53%. Steelcase’s dividend payout ratio (DPR) is 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.