Steelcase Inc. (NYSE:SCS) Shares Acquired by Barclays PLC

Barclays PLC raised its holdings in Steelcase Inc. (NYSE:SCS - Free Report) by 15.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 205,985 shares of the business services provider's stock after acquiring an additional 27,983 shares during the quarter. Barclays PLC owned approximately 0.18% of Steelcase worth $2,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SCS. R Squared Ltd bought a new stake in Steelcase during the 4th quarter valued at $36,000. Olympiad Research LP purchased a new position in shares of Steelcase in the 4th quarter worth approximately $134,000. Aigen Investment Management LP purchased a new stake in Steelcase during the fourth quarter valued at approximately $155,000. LPL Financial LLC purchased a new position in Steelcase in the fourth quarter worth $191,000. Finally, Ieq Capital LLC purchased a new stake in shares of Steelcase during the 4th quarter valued at $203,000. 92.42% of the stock is currently owned by institutional investors.

Steelcase Trading Up 2.8 %

SCS stock traded up $0.28 during mid-day trading on Friday, hitting $10.15. 611,651 shares of the company were exchanged, compared to its average volume of 645,562. The business has a fifty day simple moving average of $10.68 and a 200-day simple moving average of $11.78. 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 $9.32 and a 12-month high of $14.74. The firm has a market capitalization of $1.16 billion, a P/E ratio of 10.57, a PEG ratio of 1.25 and a beta of 1.12.

Steelcase (NYSE:SCS - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. The firm had revenue of $788.00 million for the quarter, compared to analyst estimates of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. On average, equities research analysts predict that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Monday, April 7th. Steelcase's dividend payout ratio is currently 39.60%.

Insider Activity

In other Steelcase news, VP Robert G. Krestakos sold 6,000 shares of Steelcase stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $10.13, for a total value of $60,780.00. Following the transaction, the vice president now directly owns 139,912 shares in the company, valued at approximately $1,417,308.56. This trade represents a 4.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.96% of the company's stock.

Wall Street Analyst Weigh In

Separately, Sidoti raised shares of Steelcase to a "hold" rating in a research report on Friday, March 28th.

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.