28,115 Shares in Steelcase Inc. (NYSE:SCS) Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp bought a new stake in Steelcase Inc. (NYSE:SCS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 28,115 shares of the business services provider's stock, valued at approximately $332,000.

Other institutional investors also recently made changes to their positions in the company. Pzena Investment Management LLC increased its holdings in shares of Steelcase by 2.6% in the 4th quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider's stock valued at $63,513,000 after purchasing an additional 133,893 shares in the last quarter. Fifth Third Bancorp grew its position in Steelcase by 7.4% during the fourth quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider's stock worth $42,305,000 after buying an additional 245,981 shares during the period. American Century Companies Inc. increased its holdings 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 buying an additional 275,369 shares in the last quarter. State Street Corp lifted its position in shares of Steelcase by 1.0% during the 3rd quarter. State Street Corp now owns 2,260,310 shares of the business services provider's stock valued at $30,714,000 after acquiring an additional 22,226 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Steelcase by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,180,428 shares of the business services provider's stock worth $29,420,000 after acquiring an additional 22,507 shares in the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Robert G. Krestakos sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value of $58,700.00. Following the completion of the transaction, the vice president now owns 114,481 shares of the company's stock, valued at $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 12.96% of the company's stock.

Wall Street Analyst Weigh In

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

Steelcase Price Performance

NYSE SCS traded down $0.48 during trading hours on Monday, reaching $10.20. The company's stock had a trading volume of 1,234,260 shares, compared to its average volume of 638,537. 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's 50-day moving average is $11.51 and its two-hundred day moving average is $12.21. Steelcase Inc. has a fifty-two week low of $9.96 and a fifty-two week high of $14.74. The stock has a market cap of $1.16 billion, a PE ratio of 10.62, a PEG ratio of 1.25 and a beta of 1.12.

Steelcase (NYSE:SCS - Get Free Report) last released its quarterly earnings results 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 net margin of 3.63% and a return on equity of 14.20%. The business had revenue of $788.00 million for the quarter, compared to analyst estimates of $790.90 million. During the same period in the prior year, the business earned $0.23 earnings per share. The company's quarterly revenue was up 1.7% on a year-over-year basis. Analysts forecast that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a $0.10 dividend. The ex-dividend date is Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.92%. Steelcase's dividend payout ratio (DPR) is 39.60%.

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.