Marshall Wace LLP Has $543,000 Holdings in Steelcase Inc. (NYSE:SCS)

Marshall Wace LLP lowered its position in Steelcase Inc. (NYSE:SCS - Free Report) by 73.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 45,954 shares of the business services provider's stock after selling 128,938 shares during the period. Marshall Wace LLP's holdings in Steelcase were worth $543,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of SCS. Pzena Investment Management LLC lifted its holdings 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 buying an additional 133,893 shares during the period. Fifth Third Bancorp lifted its stake 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 purchasing an additional 245,981 shares during the period. American Century Companies Inc. boosted 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 purchasing an additional 275,369 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Steelcase by 109.8% during the fourth quarter. Teacher Retirement System of Texas now owns 775,177 shares of the business services provider's stock worth $9,163,000 after purchasing an additional 405,614 shares during the period. Finally, Empowered Funds LLC lifted its stake in Steelcase by 5.1% in the fourth quarter. Empowered Funds LLC now owns 586,354 shares of the business services provider's stock valued at $6,931,000 after buying an additional 28,610 shares during the period. 92.42% of the stock is owned by institutional investors.

Insider Transactions at Steelcase

In related news, VP Robert G. Krestakos sold 6,000 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 139,912 shares of the company's stock, valued at approximately $1,417,308.56. This represents a 4.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 12.96% of the company's stock.

Wall Street Analyst Weigh In

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

Steelcase Stock Up 2.8 %

SCS stock opened at $10.15 on Friday. The company has a market cap of $1.16 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 1.25 and a beta of 1.12. Steelcase Inc. has a fifty-two week low of $9.32 and a fifty-two week high of $14.74. The stock's 50 day simple moving average is $10.68 and its 200 day simple moving average is $11.79. 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 posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm posted $0.23 EPS. Steelcase's revenue was up 1.7% compared to the same quarter last year. On average, research analysts expect that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were paid 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 yield of 3.94%. Steelcase's dividend payout ratio (DPR) 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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