Marshall Wace LLP Sells 128,938 Shares of Steelcase Inc. (NYSE:SCS)

Marshall Wace LLP lowered its stake in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 73.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,954 shares of the business services provider's stock after selling 128,938 shares during the quarter. Marshall Wace LLP's holdings in Steelcase were worth $543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC grew its stake in shares of Steelcase by 203.1% in the 3rd quarter. Barclays PLC now owns 178,002 shares of the business services provider's stock worth $2,402,000 after acquiring an additional 119,268 shares in the last quarter. Franklin Resources Inc. increased its stake in Steelcase by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 99,574 shares of the business services provider's stock valued at $1,292,000 after buying an additional 2,791 shares during the last quarter. Diversified Trust Co lifted its position in shares of Steelcase by 2.9% during the 4th quarter. Diversified Trust Co now owns 31,801 shares of the business services provider's stock worth $376,000 after buying an additional 886 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Steelcase in the 4th quarter worth approximately $379,000. Finally, Fifth Third Bancorp grew its holdings in shares of 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. 92.42% of the stock is owned by hedge funds and other institutional investors.

Steelcase Stock Performance

SCS stock traded up $0.28 during mid-day trading on Thursday, hitting $10.19. The company had a trading volume of 133,933 shares, compared to its average volume of 690,012. 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 firm has a market cap of $1.17 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15. Steelcase Inc. has a 12 month low of $9.31 and a 12 month high of $14.74. The stock's fifty day moving average price is $10.54 and its two-hundred day moving average price is $11.72.

Steelcase (NYSE:SCS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, beating 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 business had revenue of $788.00 million for the quarter, compared to the consensus estimate of $790.90 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. Steelcase's revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts forecast that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Monday, April 7th. Steelcase's dividend payout ratio is currently 39.60%.

Insider Buying and Selling at Steelcase

In other news, VP Robert G. Krestakos sold 6,000 shares of the business'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 value of $60,780.00. Following the sale, the vice president now owns 139,912 shares of the company's stock, valued at $1,417,308.56. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.96% of the company's stock.

Analyst Ratings Changes

Separately, Sidoti upgraded Steelcase to a "hold" rating in a report 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.