Mackenzie Financial Corp Buys 48,192 Shares of Steelcase Inc. (NYSE:SCS)

Mackenzie Financial Corp increased its position in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 92.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 100,432 shares of the business services provider's stock after purchasing an additional 48,192 shares during the quarter. Mackenzie Financial Corp owned approximately 0.09% of Steelcase worth $1,187,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Steelcase during the 4th quarter worth approximately $36,000. Virtus Fund Advisers LLC boosted its position in Steelcase by 228.9% in the fourth quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider's stock worth $93,000 after purchasing an additional 5,493 shares during the last quarter. Quarry LP grew its stake in Steelcase by 162.6% in the 4th quarter. Quarry LP now owns 8,344 shares of the business services provider's stock valued at $99,000 after purchasing an additional 5,166 shares during the period. Olympiad Research LP purchased a new stake in shares of Steelcase during the 4th quarter valued at $134,000. Finally, Boothbay Fund Management LLC bought a new position in Steelcase during the fourth quarter valued at about $135,000. 92.42% of the stock is owned by institutional investors.

Insider Activity at Steelcase

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

Steelcase Price Performance

NYSE SCS traded down $0.14 during trading hours on Wednesday, hitting $10.38. The company had a trading volume of 468,814 shares, compared to its average volume of 650,570. The firm has a 50 day simple moving average of $10.24 and a 200 day simple moving average of $11.39. Steelcase Inc. has a 52 week low of $9.32 and a 52 week high of $14.74. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.25 and a beta of 1.15. 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 issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The company had revenue of $788.00 million during the quarter, compared to analyst estimates of $790.90 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Steelcase's revenue was up 1.7% on a year-over-year basis. Equities research 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. Shareholders of record on Monday, April 7th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Monday, April 7th. Steelcase's dividend payout ratio is currently 39.60%.

Analyst Ratings Changes

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

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.