Northern Trust Corp Raises Position in Steelcase Inc. (NYSE:SCS)

Northern Trust Corp boosted its position in Steelcase Inc. (NYSE:SCS - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,011,144 shares of the business services provider's stock after acquiring an additional 58,079 shares during the quarter. Northern Trust Corp owned 0.89% of Steelcase worth $11,952,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Steelcase during the 4th quarter valued at $36,000. Quarry LP boosted its position in Steelcase by 162.6% during the fourth quarter. Quarry LP now owns 8,344 shares of the business services provider's stock valued at $99,000 after buying an additional 5,166 shares during the period. Olympiad Research LP bought a new position in shares of Steelcase during the fourth quarter valued at about $134,000. Boothbay Fund Management LLC bought a new position in shares of Steelcase during the fourth quarter valued at about $135,000. Finally, Mariner LLC purchased a new position in shares of Steelcase in the fourth quarter worth about $139,000. Institutional investors own 92.42% of the company's stock.

Insider Transactions at Steelcase

In related news, VP Robert G. Krestakos sold 6,000 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $10.13, for a total transaction of $60,780.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.96% of the company's stock.

Steelcase Trading Down 1.0%

Shares of NYSE SCS traded down $0.10 during mid-day trading on Tuesday, hitting $10.25. The stock had a trading volume of 398,819 shares, compared to its average volume of 647,324. The business has a 50 day moving average price of $10.39 and a two-hundred day moving average price of $11.61. Steelcase Inc. has a 1 year low of $9.32 and a 1 year 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 firm has a market cap of $1.18 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15.

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

Steelcase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Monday, April 7th. Steelcase's dividend payout ratio (DPR) is currently 39.60%.

Analyst Upgrades and Downgrades

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

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.