Quest Partners LLC Has $408,000 Stock Holdings in Steelcase Inc. (NYSE:SCS)

Quest Partners LLC raised its stake in Steelcase Inc. (NYSE:SCS) by 399.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 30,247 shares of the business services provider’s stock after buying an additional 24,186 shares during the period. Quest Partners LLC’s holdings in Steelcase were worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Steelcase during the 2nd quarter worth about $93,000. DekaBank Deutsche Girozentrale acquired a new stake in Steelcase during the 1st quarter worth approximately $141,000. Creative Planning boosted its stake in Steelcase by 8.7% in the 3rd quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock valued at $182,000 after purchasing an additional 1,075 shares during the period. ProShare Advisors LLC grew its holdings in Steelcase by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 16,656 shares of the business services provider’s stock valued at $218,000 after buying an additional 1,311 shares in the last quarter. Finally, Cannon Global Investment Management LLC acquired a new position in Steelcase in the 2nd quarter valued at $259,000. 92.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Noble Financial began coverage on shares of Steelcase in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $16.00 target price for the company.

Insider Buying and Selling at Steelcase

In related news, VP Robert G. Krestakos sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $13.11, for a total transaction of $52,440.00. Following the sale, the vice president now owns 119,481 shares in the company, valued at approximately $1,566,395.91. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.96% of the company’s stock.

Steelcase Stock Up 1.8 %

NYSE SCS opened at $13.27 on Monday. The company has a current ratio of 1.62, a quick ratio of 1.23 and a debt-to-equity ratio of 0.48. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.30 and a beta of 1.34. The company has a 50 day moving average of $12.99 and a 200-day moving average of $13.16. Steelcase Inc. has a 1-year low of $11.50 and a 1-year high of $14.74.

Steelcase (NYSE:SCS) last announced its quarterly earnings data on Wednesday, September 18th. The business services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The firm had revenue of $855.80 million during the quarter, compared to analysts’ expectations of $864.17 million. Steelcase had a return on equity of 14.41% and a net margin of 4.02%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS. On average, equities research analysts expect that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 3.01%. Steelcase’s payout ratio is 37.74%.

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.