Steelcase Inc. (NYSE:SCS) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its holdings in Steelcase Inc. (NYSE:SCS) by 20.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,234,770 shares of the business services provider’s stock after selling 312,011 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Steelcase were worth $14,595,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FMR LLC raised its position in shares of Steelcase by 3,862.6% during the 3rd quarter. FMR LLC now owns 101,523 shares of the business services provider’s stock worth $1,370,000 after acquiring an additional 98,961 shares in the last quarter. Centiva Capital LP acquired a new stake in Steelcase during the third quarter worth approximately $181,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Steelcase during the 3rd quarter worth approximately $6,167,000. State Street Corp boosted its holdings 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 buying an additional 22,226 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Steelcase in the 3rd quarter valued at $742,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Steelcase Trading Down 0.4 %

SCS opened at $10.69 on Friday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. Steelcase Inc. has a 52 week low of $10.25 and a 52 week high of $14.74. The business’s 50 day moving average is $11.54 and its two-hundred day moving average is $12.26. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48.

Steelcase (NYSE:SCS) last released its quarterly earnings results on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The firm had revenue of $788.00 million during the quarter, compared to the consensus estimate of $790.90 million. During the same quarter in the prior year, the firm earned $0.23 EPS. Steelcase’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, research analysts predict that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Monday, April 7th. Steelcase’s dividend payout ratio (DPR) is presently 39.60%.

Analyst Upgrades and Downgrades

Separately, Sidoti raised shares of Steelcase to a “hold” rating in a research report on Friday, March 28th.

Insider Buying and Selling at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of Steelcase stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total value of $58,700.00. Following the sale, the vice president now owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. The trade was 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 the SEC website. 12.96% of the stock is owned by company insiders.

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.