Centiva Capital LP Invests $181,000 in Steelcase Inc. (NYSE:SCS)

Centiva Capital LP bought a new position in shares of Steelcase Inc. (NYSE:SCS) in the third quarter, Holdings Channel.com reports. The fund bought 13,403 shares of the business services provider’s stock, valued at approximately $181,000.

A number of other large investors have also modified their holdings of SCS. Innealta Capital LLC acquired a new position in shares of Steelcase in the 2nd quarter valued at $93,000. DekaBank Deutsche Girozentrale increased its stake in Steelcase by 8.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 12,017 shares of the business services provider’s stock valued at $153,000 after buying an additional 897 shares during the period. Creative Planning increased 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 buying an additional 1,075 shares during the period. Cannon Global Investment Management LLC acquired a new position in Steelcase in the 2nd quarter valued at $259,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Steelcase by 45.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 22,350 shares of the business services provider’s stock valued at $290,000 after buying an additional 6,984 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Steelcase Stock Down 2.0 %

NYSE SCS opened at $12.93 on Friday. The stock has a market cap of $1.47 billion, a PE ratio of 12.20, a P/E/G ratio of 1.33 and a beta of 1.35. The company has a quick ratio of 1.23, a current ratio of 1.62 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $13.03 and a two-hundred day moving average price of $13.18. Steelcase Inc. has a fifty-two week low of $11.50 and a fifty-two week 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 (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. Steelcase had a return on equity of 14.41% and a net margin of 4.02%. The firm had revenue of $855.80 million for the quarter, compared to analysts’ expectations of $864.17 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, sell-side analysts predict that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 annualized dividend and a yield of 3.09%. Steelcase’s dividend payout ratio is currently 37.74%.

Analysts Set New Price Targets

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

Insider Activity at Steelcase

In other news, VP Robert G. Krestakos sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $13.11, for a total transaction of $52,440.00. Following the completion of the sale, the vice president now directly owns 119,481 shares of the company’s stock, valued at $1,566,395.91. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.96% of the company’s stock.

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.