Strs Ohio boosted its position in shares of Steelcase Inc. (NYSE:SCS) by 5.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,400 shares of the company’s stock after buying an additional 3,400 shares during the period. Strs Ohio’s holdings in Steelcase were worth $887,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in shares of Steelcase during the first quarter worth about $695,000. HBK Investments L P raised its position in shares of Steelcase by 1,168.6% in the first quarter. HBK Investments L P now owns 201,700 shares of the company’s stock worth $3,009,000 after buying an additional 185,800 shares during the last quarter. Bogle Investment Management L P DE bought a new position in shares of Steelcase during the first quarter worth about $5,333,000. Wellington Management Group LLP raised its position in shares of Steelcase by 5.2% in the first quarter. Wellington Management Group LLP now owns 2,729,643 shares of the company’s stock worth $40,726,000 after buying an additional 134,228 shares during the last quarter. Finally, Prudential PLC raised its position in shares of Steelcase by 31.7% in the first quarter. Prudential PLC now owns 1,176,300 shares of the company’s stock worth $17,550,000 after buying an additional 283,100 shares during the last quarter. 65.97% of the stock is owned by institutional investors.
Steelcase Inc. (NYSE:SCS) traded up 1.87% during mid-day trading on Monday, hitting $13.60. 894,619 shares of the stock were exchanged. The company has a 50 day moving average price of $14.01 and a 200 day moving average price of $14.61. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 9.81 and a beta of 1.21. Steelcase Inc. has a 52-week low of $11.67 and a 52-week high of $20.37.
Steelcase (NYSE:SCS) last issued its quarterly earnings data on Wednesday, September 21st. The company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $758 million for the quarter. Steelcase had a return on equity of 17.38% and a net margin of 5.67%. The company’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS. On average, analysts anticipate that Steelcase Inc. will post $1.09 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Tuesday, October 4th were given a dividend of $0.12 per share. The ex-dividend date was Friday, September 30th. This represents a $0.48 dividend on an annualized basis and a yield of 3.53%. Steelcase’s dividend payout ratio is currently 35.04%.
Separately, Zacks Investment Research lowered shares of Steelcase from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th.
Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.
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