PharVision Advisers LLC Takes Position in Steelcase Inc. (NYSE:SCS)

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

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake 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 valued at $64,129,000 after acquiring an additional 47,748 shares during the period. Pzena Investment Management LLC raised its holdings in shares of Steelcase by 2.6% during the fourth quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider's stock valued at $63,513,000 after purchasing an additional 133,893 shares during the last quarter. Fifth Third Bancorp lifted its position in Steelcase by 7.4% during the fourth quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider's stock valued at $42,305,000 after purchasing an additional 245,981 shares during the period. American Century Companies Inc. boosted its holdings in Steelcase by 10.0% in the fourth quarter. American Century Companies Inc. now owns 3,024,828 shares of the business services provider's stock worth $35,753,000 after purchasing an additional 275,369 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position in Steelcase by 2.7% in 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 purchasing an additional 28,610 shares during the period. 92.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Steelcase

In other news, VP Robert G. Krestakos sold 6,000 shares of the firm's 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.96% of the stock is owned by company insiders.

Steelcase Trading Down 1.0%

Shares of NYSE:SCS opened at $10.25 on Wednesday. The stock's 50-day simple moving average is $10.38 and its two-hundred day simple moving average is $11.60. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.25 and a beta of 1.15. Steelcase Inc. has a 52-week low of $9.32 and a 52-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 issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. The firm had revenue of $788.00 million for the quarter, compared to analysts' expectations of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 EPS. Analysts expect that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a yield of 3.90%. Steelcase's dividend payout ratio is currently 39.60%.

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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