Dimensional Fund Advisors LP Has $64.13 Million Stock Holdings in Steelcase Inc. (NYSE:SCS)

Dimensional Fund Advisors LP raised its position in Steelcase Inc. (NYSE:SCS - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,425,529 shares of the business services provider's stock after purchasing an additional 47,748 shares during the period. Dimensional Fund Advisors LP owned about 4.77% of Steelcase worth $64,129,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SCS. R Squared Ltd acquired a new position in shares of Steelcase in the 4th quarter valued at about $36,000. Olympiad Research LP acquired a new position in Steelcase during the fourth quarter valued at approximately $134,000. Mariner LLC purchased a new stake in Steelcase during the fourth quarter worth approximately $139,000. Aigen Investment Management LP acquired a new stake in shares of Steelcase in the fourth quarter worth $155,000. Finally, LPL Financial LLC purchased a new position in shares of Steelcase in the 4th quarter valued at $191,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Sidoti upgraded Steelcase to a "hold" rating in a research note on Friday, March 28th.

Steelcase Trading Up 2.8 %

Shares of NYSE SCS traded up $0.28 during mid-day trading on Friday, hitting $10.15. 611,651 shares of the company traded hands, compared to its average volume of 645,562. The business has a 50 day moving average of $10.68 and a two-hundred day moving average of $11.77. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.25 and a beta of 1.12. 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 1 year low of $9.32 and a 1 year high of $14.74.

Steelcase (NYSE:SCS - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, beating the consensus estimate 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 company's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. On average, sell-side analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a dividend of $0.10 per share. 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 (DPR) is 39.60%.

Insider Activity

In other Steelcase news, VP Robert G. Krestakos sold 6,000 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $10.13, for a total transaction of $60,780.00. Following the completion of the transaction, the vice president now owns 139,912 shares in the company, valued at $1,417,308.56. This trade represents a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.96% of the stock is owned by company insiders.

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.