Cookson Peirce & Co. Inc. Takes Position in Steelcase Inc. (NYSE:SCS)

Cookson Peirce & Co. Inc. acquired a new stake in shares of Steelcase Inc. (NYSE:SCS) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 14,145 shares of the business services provider’s stock, valued at approximately $191,000.

Other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC boosted its position in Steelcase by 12.0% during the 2nd quarter. ProShare Advisors LLC now owns 11,478 shares of the business services provider’s stock worth $88,000 after purchasing an additional 1,233 shares during the period. Prime Capital Investment Advisors LLC boosted its position in Steelcase by 8.6% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 18,680 shares of the business services provider’s stock worth $253,000 after purchasing an additional 1,476 shares during the period. Legal & General Group Plc boosted its position in Steelcase by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 90,108 shares of the business services provider’s stock worth $1,007,000 after purchasing an additional 1,764 shares during the period. Swiss National Bank boosted its position in Steelcase by 1.0% during the 3rd quarter. Swiss National Bank now owns 185,200 shares of the business services provider’s stock worth $2,069,000 after purchasing an additional 1,900 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Steelcase by 67.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,730 shares of the business services provider’s stock worth $64,000 after buying an additional 2,300 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Steelcase from a “buy” rating to a “strong-buy” rating in a report on Friday, March 29th.

Insider Activity

In other news, VP Robert G. Krestakos sold 4,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $12.61, for a total value of $50,440.00. Following the sale, the vice president now owns 108,081 shares in the company, valued at approximately $1,362,901.41. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 12.72% of the company’s stock.

Steelcase Stock Performance

Shares of SCS stock opened at $11.82 on Thursday. Steelcase Inc. has a 12 month low of $6.39 and a 12 month high of $14.54. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.58 and a quick ratio of 1.12. The firm has a market capitalization of $1.35 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.29 and a beta of 1.35. The company’s fifty day moving average price is $12.81 and its two-hundred day moving average price is $12.39.

Steelcase (NYSE:SCS) last issued its quarterly earnings data on Wednesday, March 20th. The business services provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Steelcase had a net margin of 2.57% and a return on equity of 12.87%. The firm had revenue of $775.20 million for the quarter, compared to analyst estimates of $780.25 million. During the same quarter in the previous year, the business posted $0.19 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. On average, research analysts anticipate that Steelcase Inc. will post 0.92 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.38%. Steelcase’s dividend payout ratio (DPR) is presently 58.82%.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products in the United States and internationally. It operates through Americas, EMEA, and Other 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, and mobile power and screens.