Dimensional Fund Advisors LP Buys 47,748 Shares of Steelcase Inc. (NYSE:SCS)

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

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

Insider Activity

In related news, VP Robert G. Krestakos sold 6,000 shares of the business's 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 completion of the sale, the vice president now owns 139,912 shares of the company's stock, valued at approximately $1,417,308.56. The trade was a 4.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 12.96% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Steelcase Stock Up 0.5 %

Shares of SCS stock traded up $0.05 on Wednesday, reaching $9.92. 535,890 shares of the company's stock traded hands, compared to its average volume of 644,933. The company has a market capitalization of $1.14 billion, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15. Steelcase Inc. has a 12-month low of $9.32 and a 12-month high of $14.74. 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 business's 50 day moving average price is $10.54 and its two-hundred day moving average price is $11.72.

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, beating the consensus estimate of $0.20 by $0.06. The company had revenue of $788.00 million for the quarter, compared to analysts' expectations of $790.90 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The business's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. On average, equities analysts forecast that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Monday, April 7th. Steelcase's dividend payout ratio (DPR) is currently 39.60%.

Steelcase Company Profile

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.