Bridgeway Capital Management LLC Boosts Stock Position in Steelcase Inc. (NYSE:SCS)

Bridgeway Capital Management LLC raised its stake in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,081,354 shares of the business services provider's stock after purchasing an additional 28,610 shares during the period. Bridgeway Capital Management LLC owned 0.95% of Steelcase worth $12,782,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new stake in Steelcase in the 4th quarter worth about $36,000. Quarry LP lifted its position in shares of Steelcase by 162.6% in the fourth quarter. Quarry LP now owns 8,344 shares of the business services provider's stock valued at $99,000 after acquiring an additional 5,166 shares in the last quarter. Olympiad Research LP acquired a new stake in shares of Steelcase in the fourth quarter worth approximately $134,000. Boothbay Fund Management LLC purchased a new stake in shares of Steelcase during the fourth quarter worth approximately $135,000. Finally, Mariner LLC acquired a new position in Steelcase in the 4th quarter valued at $139,000. Institutional investors and hedge funds 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 firm's stock in a transaction dated 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 sale, the vice president now directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.96% of the company's stock.

Wall Street Analysts Forecast Growth

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

Steelcase Price Performance

Shares of Steelcase stock traded down $0.03 on Friday, hitting $10.45. 654,395 shares of the company were exchanged, compared to its average volume of 646,730. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $10.49 and a 200 day moving average price of $11.69. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.89, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15. Steelcase Inc. has a 1-year low of $9.32 and a 1-year high of $14.74.

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 for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The company had revenue of $788.00 million for the quarter, compared to analyst estimates of $790.90 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The firm's revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a $0.10 dividend. The ex-dividend date was Monday, April 7th. This represents a $0.40 annualized dividend and a dividend yield of 3.83%. Steelcase's dividend payout ratio (DPR) is 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.