Squarepoint Ops LLC Makes New Investment in Steelcase Inc. (NYSE:SCS)

Squarepoint Ops LLC acquired a new position in shares of Steelcase Inc. (NYSE:SCS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,483 shares of the business services provider's stock, valued at approximately $360,000.

Other large investors also recently added to or reduced their stakes in the company. Two Sigma Advisers LP boosted its position in shares of Steelcase by 30.4% during the 4th quarter. Two Sigma Advisers LP now owns 60,900 shares of the business services provider's stock valued at $720,000 after acquiring an additional 14,200 shares during the last quarter. Two Sigma Investments LP raised its stake in Steelcase by 25.0% during the fourth quarter. Two Sigma Investments LP now owns 92,346 shares of the business services provider's stock worth $1,092,000 after purchasing an additional 18,454 shares during the period. State of Wyoming boosted its holdings in Steelcase by 9.3% in the 4th quarter. State of Wyoming now owns 20,668 shares of the business services provider's stock valued at $244,000 after purchasing an additional 1,762 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Steelcase by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 26,067 shares of the business services provider's stock valued at $308,000 after purchasing an additional 8,589 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Steelcase by 93.6% in the 4th quarter. Millennium Management LLC now owns 694,625 shares of the business services provider's stock valued at $8,210,000 after buying an additional 335,889 shares during the period. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Steelcase Trading Up 2.2%

SCS traded up $0.23 on Monday, hitting $10.58. The company had a trading volume of 622,432 shares, compared to its average volume of 651,168. The company's fifty day moving average price is $10.21 and its 200 day moving average price is $11.33. Steelcase Inc. has a 1 year low of $9.32 and a 1 year high of $14.74. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. The firm has a market cap of $1.21 billion, a P/E ratio of 11.02, a PEG ratio of 1.25 and a beta of 1.14.

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

Steelcase Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors 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 3.78%. The ex-dividend date of this dividend was Monday, April 7th. Steelcase's dividend payout ratio (DPR) is 39.60%.

Insider Buying and Selling at Steelcase

In other news, VP Robert G. Krestakos sold 6,000 shares of the 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 sale, the vice president now owns 139,912 shares of the company's stock, valued at approximately $1,417,308.56. This 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 can be accessed through the SEC website. 6.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.