Steelcase Inc. (NYSE:SCS) Shares Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC boosted its position in Steelcase Inc. (NYSE:SCS) by 32.9% in the third quarter, HoldingsChannel.com reports. The firm owned 74,605 shares of the business services provider’s stock after purchasing an additional 18,459 shares during the quarter. Sanctuary Advisors LLC’s holdings in Steelcase were worth $990,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC raised its holdings in shares of Steelcase by 0.5% in the 2nd quarter. Pzena Investment Management LLC now owns 7,092,675 shares of the business services provider’s stock worth $91,921,000 after purchasing an additional 33,024 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Steelcase by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,297,183 shares of the business services provider’s stock worth $68,652,000 after acquiring an additional 215,729 shares in the last quarter. Cooke & Bieler LP grew its holdings in shares of Steelcase by 4.9% in the 2nd quarter. Cooke & Bieler LP now owns 4,002,442 shares of the business services provider’s stock worth $51,872,000 after acquiring an additional 186,596 shares during the last quarter. American Century Companies Inc. raised its position in shares of Steelcase by 13.5% during the second quarter. American Century Companies Inc. now owns 2,450,799 shares of the business services provider’s stock worth $31,762,000 after purchasing an additional 291,070 shares during the period. Finally, State Street Corp boosted its position in shares of Steelcase by 1.0% in the 3rd quarter. State Street Corp now owns 2,260,310 shares of the business services provider’s stock valued at $30,714,000 after purchasing an additional 22,226 shares during the period. 92.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Robert G. Krestakos sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $13.11, for a total value of $52,440.00. Following the completion of the sale, the vice president now directly owns 119,481 shares in the company, valued at approximately $1,566,395.91. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 12.96% of the company’s stock.

Steelcase Trading Down 4.7 %

Shares of NYSE:SCS opened at $11.74 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.62 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a 12-month low of $11.50 and a 12-month high of $14.74. The firm has a fifty day moving average of $13.00 and a two-hundred day moving average of $13.15. The firm has a market capitalization of $1.34 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35.

Steelcase (NYSE:SCS) last posted its earnings results on Wednesday, December 18th. The business services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.23 by $0.07. The company had revenue of $794.90 million during the quarter, compared to the consensus estimate of $796.58 million. Steelcase had a net margin of 4.02% and a return on equity of 14.41%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. On average, equities analysts expect that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Monday, December 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.40 annualized dividend and a yield of 3.41%. Steelcase’s dividend payout ratio (DPR) is currently 41.67%.

Analysts Set New Price Targets

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

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.