Gallacher Capital Management LLC Buys 12,748 Shares of Steelcase Inc. (NYSE:SCS)

Gallacher Capital Management LLC grew its stake in shares of Steelcase Inc. (NYSE:SCS) by 34.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,670 shares of the business services provider’s stock after buying an additional 12,748 shares during the period. Gallacher Capital Management LLC’s holdings in Steelcase were worth $587,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SCS. Empowered Funds LLC increased its holdings in Steelcase by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 557,744 shares of the business services provider’s stock worth $7,524,000 after acquiring an additional 28,408 shares during the period. Quest Partners LLC increased its holdings in shares of Steelcase by 399.0% in the third quarter. Quest Partners LLC now owns 30,247 shares of the business services provider’s stock worth $408,000 after purchasing an additional 24,186 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Steelcase in the third quarter worth $2,273,000. Intech Investment Management LLC bought a new position in Steelcase in the 3rd quarter worth about $347,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Steelcase in the 3rd quarter worth about $602,000. Institutional investors own 92.42% of the company’s stock.

Steelcase Price Performance

Shares of NYSE SCS opened at $10.97 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. The stock’s 50-day simple moving average is $11.69 and its two-hundred day simple moving average is $12.54. The firm has a market capitalization of $1.25 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.25 and a beta of 1.33. Steelcase Inc. has a twelve month low of $10.78 and a twelve month high of $14.74.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. The company had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $796.58 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. Steelcase’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. As a group, equities analysts anticipate 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 Monday, January 13th. Investors of record on Monday, December 30th were paid a $0.10 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.40 dividend on an annualized basis and a yield of 3.64%. Steelcase’s dividend payout ratio is presently 41.67%.

Insider Activity at Steelcase

In other news, VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the transaction, the vice president now directly owns 114,481 shares in the company, valued at approximately $1,344,006.94. This represents a 4.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.96% of the stock is owned by insiders.

Steelcase Company 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.