Steelcase Inc. (NYSE:SCS) Stock Holdings Lowered by First Trust Advisors LP

First Trust Advisors LP trimmed its position in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 37.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,778 shares of the business services provider's stock after selling 115,520 shares during the period. First Trust Advisors LP owned approximately 0.17% of Steelcase worth $2,243,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Steelcase in the 4th quarter valued at about $36,000. Olympiad Research LP purchased a new position in Steelcase in the fourth quarter valued at about $134,000. Mariner LLC acquired a new stake in Steelcase during the 4th quarter valued at approximately $139,000. Aigen Investment Management LP purchased a new stake in Steelcase during the 4th quarter worth approximately $155,000. Finally, LPL Financial LLC acquired a new position in shares of Steelcase in the 4th quarter valued at approximately $191,000. Hedge funds and other institutional investors own 92.42% of the company's stock.

Steelcase Stock Down 0.3 %

Shares of SCS stock traded down $0.03 during trading hours on Friday, hitting $10.45. 654,395 shares of the company were exchanged, compared to its average volume of 647,973. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.89, a P/E/G ratio of 1.25 and a beta of 1.15. Steelcase Inc. has a one year low of $9.32 and a one year high of $14.74. The business's 50-day simple moving average is $10.49 and its two-hundred day simple moving average is $11.69. 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 earnings results 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 last year, the firm earned $0.23 EPS. The business's revenue was up 1.7% on a year-over-year basis. Sell-side analysts predict that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given 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 dividend yield of 3.83%. Steelcase's payout ratio is currently 39.60%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Steelcase

In related news, VP Robert G. Krestakos sold 6,000 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $10.13, for a total transaction of $60,780.00. Following the sale, the vice president now owns 139,912 shares in the company, valued at $1,417,308.56. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.96% of the company's stock.

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.