Arjuna Capital Sells 110,865 Shares of Steelcase Inc. (NYSE:SCS)

Arjuna Capital cut its holdings in Steelcase Inc. (NYSE:SCS - Free Report) by 74.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,175 shares of the business services provider's stock after selling 110,865 shares during the quarter. Arjuna Capital's holdings in Steelcase were worth $418,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SCS. Vanguard Group Inc. grew its holdings in shares of Steelcase by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 10,406,316 shares of the business services provider's stock valued at $114,053,000 after purchasing an additional 65,179 shares during the last quarter. US Bancorp DE grew its holdings in shares of Steelcase by 4,509.8% during the 1st quarter. US Bancorp DE now owns 4,702 shares of the business services provider's stock valued at $52,000 after purchasing an additional 4,600 shares during the last quarter. Vestcor Inc grew its holdings in shares of Steelcase by 19.2% during the 1st quarter. Vestcor Inc now owns 83,847 shares of the business services provider's stock valued at $919,000 after purchasing an additional 13,500 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Steelcase by 85.7% during the 1st quarter. Mackenzie Financial Corp now owns 186,487 shares of the business services provider's stock valued at $2,044,000 after purchasing an additional 86,055 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Steelcase in the 1st quarter valued at $121,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SCS shares. Wall Street Zen cut Steelcase from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Sidoti raised Steelcase to a "hold" rating in a research note on Friday, March 28th.

Steelcase Stock Performance

Steelcase stock opened at $10.61 on Friday. The business has a 50 day moving average of $10.50 and a 200-day moving average of $10.94. Steelcase Inc. has a 1 year low of $9.32 and a 1 year high of $14.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.65 and a quick ratio of 1.15. The company has a market capitalization of $1.22 billion, a P/E ratio of 10.30, a P/E/G ratio of 1.01 and a beta of 1.13.

Steelcase (NYSE:SCS - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $779.00 million during the quarter, compared to the consensus estimate of $759.90 million. Steelcase had a return on equity of 14.49% and a net margin of 3.84%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. On average, equities research analysts predict 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 will be paid on Monday, July 21st. Investors of record on Monday, July 7th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Monday, July 7th. Steelcase's dividend payout ratio is currently 38.83%.

Insider Transactions at Steelcase

In related news, VP Robert G. Krestakos sold 12,000 shares of the firm's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $10.63, for a total transaction of $127,560.00. Following the completion of the transaction, the vice president directly owned 127,912 shares of the company's stock, valued at $1,359,704.56. This trade represents a 8.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.75% of the stock is currently owned by corporate insiders.

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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