30,483 Shares in Steelcase Inc. (NYSE:SCS) Bought by Squarepoint Ops LLC

Squarepoint Ops LLC purchased a new position in shares of Steelcase Inc. (NYSE:SCS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,483 shares of the business services provider's stock, valued at approximately $360,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Steelcase by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,425,529 shares of the business services provider's stock worth $64,129,000 after acquiring an additional 47,748 shares during the period. Pzena Investment Management LLC lifted its position in Steelcase by 2.6% during the 4th quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider's stock worth $63,513,000 after acquiring an additional 133,893 shares during the period. American Century Companies Inc. lifted its position in Steelcase by 10.0% during the 4th quarter. American Century Companies Inc. now owns 3,024,828 shares of the business services provider's stock worth $35,753,000 after acquiring an additional 275,369 shares during the period. Bridgeway Capital Management LLC lifted its position in Steelcase by 2.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,081,354 shares of the business services provider's stock worth $12,782,000 after acquiring an additional 28,610 shares during the period. Finally, Northern Trust Corp lifted its position in Steelcase by 6.1% during the 4th quarter. Northern Trust Corp now owns 1,011,144 shares of the business services provider's stock worth $11,952,000 after acquiring an additional 58,079 shares during the period. Institutional investors and hedge funds own 92.42% of the company's stock.

Steelcase Stock Performance

NYSE SCS opened at $10.37 on Friday. The stock has a 50-day simple moving average of $10.23 and a two-hundred day simple moving average of $11.37. The firm has a market capitalization of $1.19 billion, a P/E ratio of 10.80, a PEG ratio of 1.25 and a beta of 1.14. Steelcase Inc. has a fifty-two week low of $9.32 and a fifty-two week 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.

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 analysts' consensus estimates of $0.20 by $0.06. The business had revenue of $788.00 million during the quarter, compared to analyst estimates of $790.90 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The company's revenue was up 1.7% on a year-over-year basis. During the same quarter last 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 disclosed 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. The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.86%. Steelcase's payout ratio is currently 39.60%.

Insider Activity at Steelcase

In related news, VP Robert G. Krestakos sold 6,000 shares of Steelcase stock in a transaction dated 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 transaction, the vice president now owns 139,912 shares in the company, valued at $1,417,308.56. The trade was a 4.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.75% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Steelcase 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.

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