PharVision Advisers LLC Makes New $386,000 Investment in Steelcase Inc. (NYSE:SCS)

PharVision Advisers LLC acquired a new position in shares of Steelcase Inc. (NYSE:SCS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 32,688 shares of the business services provider's stock, valued at approximately $386,000.

Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Steelcase by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,425,529 shares of the business services provider's stock worth $64,129,000 after purchasing an additional 47,748 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Steelcase by 2.6% in 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 in the last quarter. Fifth Third Bancorp increased its holdings in shares of Steelcase by 7.4% in the 4th quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider's stock valued at $42,305,000 after acquiring an additional 245,981 shares during the last quarter. American Century Companies Inc. raised its position in shares of 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 valued at $35,753,000 after acquiring an additional 275,369 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of 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 valued at $12,782,000 after acquiring an additional 28,610 shares in the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Steelcase Stock Performance

SCS stock traded down $0.06 during midday trading on Monday, reaching $10.10. The company had a trading volume of 711,611 shares, compared to its average volume of 650,219. The firm has a market capitalization of $1.16 billion, a PE ratio of 10.52, a P/E/G ratio of 1.25 and a beta of 1.15. The stock has a 50 day moving average price of $10.32 and a 200 day moving average price of $11.54. Steelcase Inc. has a fifty-two week low of $9.32 and a fifty-two week high of $14.74. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48.

Steelcase (NYSE:SCS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share (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 business had revenue of $788.00 million for the quarter, compared to the consensus estimate of $790.90 million. During the same quarter last year, the business posted $0.23 EPS. The business's revenue was up 1.7% on a year-over-year basis. Analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a $0.10 dividend. The ex-dividend date was Monday, April 7th. This represents a $0.40 annualized dividend and a yield of 3.96%. Steelcase's dividend payout ratio is presently 39.60%.

Insider Activity at Steelcase

In related news, VP Robert G. Krestakos sold 6,000 shares of the firm'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 sale, the vice president now directly owns 139,912 shares in the company, valued at $1,417,308.56. This trade represents a 4.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.96% of the stock is currently owned by insiders.

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.