Steelcase Inc. (NYSE:SCS) Position Increased by Millennium Management LLC

Millennium Management LLC raised its holdings in Steelcase Inc. (NYSE:SCS - Free Report) by 93.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 694,625 shares of the business services provider's stock after acquiring an additional 335,889 shares during the quarter. Millennium Management LLC owned approximately 0.61% of Steelcase worth $8,210,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Steelcase by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,596 shares of the business services provider's stock worth $622,000 after buying an additional 1,741 shares during the period. Lazard Asset Management LLC increased its holdings in Steelcase by 36.0% in the 4th quarter. Lazard Asset Management LLC now owns 214,176 shares of the business services provider's stock worth $2,530,000 after buying an additional 56,691 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Steelcase by 1.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 968,815 shares of the business services provider's stock valued at $11,451,000 after purchasing an additional 12,382 shares during the last quarter. Gotham Asset Management LLC raised its position in Steelcase by 23.0% during the fourth quarter. Gotham Asset Management LLC now owns 70,303 shares of the business services provider's stock valued at $831,000 after acquiring an additional 13,168 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Steelcase by 57.0% in the 4th quarter. Deutsche Bank AG now owns 80,787 shares of the business services provider's stock valued at $955,000 after purchasing an additional 29,325 shares during the period. 92.42% of the stock is currently owned by institutional investors.

Insider Transactions at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 6,000 shares of Steelcase stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $10.13, for a total transaction 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. The trade was a 4.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.96% of the company's stock.

Steelcase Stock Up 0.2%

Steelcase stock traded up $0.03 during trading on Friday, reaching $10.39. The stock had a trading volume of 58,643 shares, compared to its average volume of 648,276. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $10.28 and a 200 day moving average price of $11.48. The stock has a market cap of $1.19 billion, a PE ratio of 10.81, a P/E/G 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.

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

Steelcase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.85%. Steelcase's payout ratio is 39.60%.

Wall Street Analysts Forecast Growth

Separately, Sidoti raised shares of 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.