Steelcase Inc. (NYSE:SCS) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its stake in Steelcase Inc. (NYSE:SCS - Free Report) by 13.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 649,790 shares of the business services provider's stock after acquiring an additional 77,521 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.57% of Steelcase worth $7,681,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SCS. Dimensional Fund Advisors LP increased its stake in Steelcase by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,425,529 shares of the business services provider's stock worth $64,129,000 after buying an additional 47,748 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of 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 worth $63,513,000 after acquiring an additional 133,893 shares during the last quarter. Fifth Third Bancorp increased its position in shares of 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 purchasing an additional 245,981 shares in the last quarter. American Century Companies Inc. lifted its holdings in Steelcase by 10.0% in 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. Finally, Northern Trust Corp lifted its holdings in Steelcase by 6.1% in the 4th quarter. Northern Trust Corp now owns 1,011,144 shares of the business services provider's stock valued at $11,952,000 after purchasing an additional 58,079 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Steelcase Stock Up 0.0%

Shares of SCS stock traded up $0.01 during trading on Friday, reaching $10.51. The company's stock had a trading volume of 458,246 shares, compared to its average volume of 650,179. The stock's 50-day moving average price is $10.42 and its 200 day moving average price is $11.64. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.25 and a beta of 1.15. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. 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 earnings results 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. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm had revenue of $788.00 million during the quarter, compared to analyst estimates of $790.90 million. During the same period last year, the business posted $0.23 earnings per share. Steelcase's revenue was up 1.7% compared to the same quarter last year. On average, research analysts anticipate that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Monday, April 7th. Steelcase's dividend payout ratio (DPR) is 39.60%.

Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 6,000 shares of Steelcase stock in a transaction 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 transaction, the vice president now directly owns 139,912 shares of the company's stock, valued at $1,417,308.56. The trade was a 4.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.96% of the company's stock.

Analysts Set New Price Targets

Separately, Sidoti raised shares of Steelcase to a "hold" rating in a research note 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.