Green Square Capital LLC Trims Stake in Steelcase (SCS)

Green Square Capital LLC cut its holdings in Steelcase (NYSE:SCS) by 4.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 96,809 shares of the business services provider’s stock after selling 4,836 shares during the period. Green Square Capital LLC’s holdings in Steelcase were worth $1,484,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SCS. Victory Capital Management Inc. increased its holdings in shares of Steelcase by 47.0% in the 3rd quarter. Victory Capital Management Inc. now owns 45,295 shares of the business services provider’s stock worth $698,000 after buying an additional 14,486 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Steelcase in the 3rd quarter worth about $1,093,000. Advisors Asset Management Inc. bought a new stake in shares of Steelcase in the 3rd quarter worth about $2,873,000. SG Americas Securities LLC increased its holdings in shares of Steelcase by 23.0% in the 3rd quarter. SG Americas Securities LLC now owns 36,803 shares of the business services provider’s stock worth $567,000 after buying an additional 6,890 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new stake in shares of Steelcase in the 3rd quarter worth about $263,000. Hedge funds and other institutional investors own 64.62% of the company’s stock.

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In related news, Director Peter M. Wege II sold 13,300 shares of Steelcase stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $15.14, for a total transaction of $201,362.00. Following the completion of the transaction, the director now directly owns 254,244 shares of the company’s stock, valued at approximately $3,849,254.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 18.87% of the stock is currently owned by insiders.

SCS stock opened at $13.60 on Friday. Steelcase has a 52 week low of $12.50 and a 52 week high of $18.15. The company has a current ratio of 1.58, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36. The company has a market cap of $1,730.41, a PE ratio of 20.00 and a beta of 1.28.

Steelcase (NYSE:SCS) last released its quarterly earnings results on Tuesday, March 20th. The business services provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. Steelcase had a net margin of 2.64% and a return on equity of 13.66%. The firm had revenue of $772.70 million during the quarter, compared to analysts’ expectations of $750.70 million. During the same period in the previous year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. analysts predict that Steelcase will post 0.96 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 30th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This is a boost from Steelcase’s previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.97%. Steelcase’s payout ratio is currently 75.00%.

Separately, Zacks Investment Research downgraded shares of Steelcase from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Steelcase presently has an average rating of “Hold” and an average target price of $16.00.

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About Steelcase

Steelcase Inc manufactures and sells integrated portfolio of furniture settings, user-centered technologies, and interior architectural products. The company operates through Americas, EMEA, and Other Category segments. Its furniture systems portfolio comprises panel-based and freestanding furniture systems, storage, desks, benches, tables, and complementary products, such as worktools.

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Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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