Steelcase Inc. (NYSE:SCS) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its holdings in Steelcase Inc. (NYSE:SCS - Free Report) by 36.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 214,176 shares of the business services provider's stock after buying an additional 56,691 shares during the period. Lazard Asset Management LLC owned approximately 0.19% of Steelcase worth $2,530,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Steelcase by 0.9% in the fourth 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 in the last quarter. Pzena Investment Management LLC grew its position in Steelcase by 2.6% in 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 acquiring an additional 133,893 shares in the last quarter. Fifth Third Bancorp grew its position in Steelcase by 7.4% in 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 acquiring an additional 245,981 shares in the last quarter. American Century Companies Inc. grew its position 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 valued at $35,753,000 after acquiring an additional 275,369 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its position in Steelcase by 2.7% in the fourth 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. Institutional investors and hedge funds own 92.42% of the company's stock.

Wall Street Analyst Weigh In

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

Steelcase Stock Up 0.9%

Shares of SCS stock traded up $0.09 during mid-day trading on Thursday, reaching $10.10. 136,373 shares of the company were exchanged, compared to its average volume of 645,800. Steelcase Inc. has a fifty-two week low of $9.32 and a fifty-two 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. The company has a market capitalization of $1.16 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.25 and a beta of 1.15. The business's 50 day simple moving average is $10.36 and its 200 day simple moving average is $11.59.

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

Steelcase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Monday, April 7th. Steelcase's payout ratio is currently 39.60%.

Insider Transactions at Steelcase

In other news, VP Robert G. Krestakos sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $10.13, for a total transaction of $60,780.00. Following the completion of the sale, the vice president now owns 139,912 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 12.96% of the company's stock.

Steelcase Company 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.