Skandinaviska Enskilda Banken AB publ Has $651,000 Holdings in Steelcase Inc. (NYSE:SCS)

Skandinaviska Enskilda Banken AB publ trimmed its position in Steelcase Inc. (NYSE:SCS) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,605 shares of the business services provider’s stock after selling 4,554 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Steelcase were worth $651,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Pzena Investment Management LLC boosted its stake in Steelcase by 2.6% in the 4th quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider’s stock worth $63,513,000 after purchasing an additional 133,893 shares during the period. AlphaQuest LLC lifted its holdings in shares of Steelcase by 111.9% in the fourth quarter. AlphaQuest LLC now owns 64,098 shares of the business services provider’s stock valued at $758,000 after purchasing an additional 33,851 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Steelcase in the fourth quarter worth $155,000. Victory Capital Management Inc. grew its holdings in shares of Steelcase by 33.2% during the fourth quarter. Victory Capital Management Inc. now owns 458,414 shares of the business services provider’s stock valued at $5,418,000 after buying an additional 114,311 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in Steelcase by 17.9% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 64,810 shares of the business services provider’s stock valued at $766,000 after buying an additional 9,830 shares during the period. 92.42% of the stock is owned by hedge funds and other institutional investors.

Steelcase Trading Up 0.2 %

Shares of NYSE SCS opened at $11.02 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a one year low of $10.78 and a one year high of $14.74. The business has a 50-day moving average price of $11.68 and a two-hundred day moving average price of $12.51. The firm has a market capitalization of $1.25 billion, a PE ratio of 11.47, a PEG ratio of 1.25 and a beta of 1.33.

Steelcase (NYSE:SCS) last posted its quarterly 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 business had revenue of $794.90 million during 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%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. As a group, analysts predict that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Monday, December 30th. Steelcase’s dividend payout ratio (DPR) is presently 41.67%.

Insider Buying and Selling

In related news, VP Robert G. Krestakos sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total transaction of $58,700.00. Following the transaction, the vice president now owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This trade represents a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.96% of the stock is owned by corporate insiders.

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.