Trexquant Investment LP lifted its holdings in shares of Steelcase Inc. (NYSE:SCS – Free Report) by 167.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 236,366 shares of the business services provider’s stock after purchasing an additional 147,908 shares during the quarter. Trexquant Investment LP owned about 0.21% of Steelcase worth $2,794,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. R Squared Ltd purchased a new position in Steelcase during the fourth quarter worth about $36,000. Olympiad Research LP purchased a new position in shares of Steelcase during the 4th quarter worth about $134,000. Aigen Investment Management LP acquired a new stake in shares of Steelcase in the fourth quarter worth approximately $155,000. Centiva Capital LP purchased a new stake in Steelcase in the third quarter valued at approximately $181,000. Finally, LPL Financial LLC acquired a new position in Steelcase during the fourth quarter worth approximately $191,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.
Analysts Set New Price Targets
Separately, Sidoti raised shares of Steelcase to a “hold” rating in a research note on Friday, March 28th.
Insider Activity
In other news, VP Robert G. Krestakos sold 5,000 shares of the firm’s 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 completion of the sale, the vice president now directly owns 114,481 shares in the company, valued at $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 at this hyperlink. Insiders own 12.96% of the company’s stock.
Steelcase Trading Down 4.5 %
Shares of SCS stock opened at $10.20 on Tuesday. 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 Inc. has a fifty-two week low of $9.96 and a fifty-two week high of $14.74. The firm’s 50 day moving average price is $11.51 and its two-hundred day moving average price is $12.21. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.25 and a beta of 1.12.
Steelcase (NYSE:SCS – Get Free Report) last released its quarterly earnings data 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 return on equity of 14.20% and a net margin of 3.63%. The company had revenue of $788.00 million for the quarter, compared to analyst estimates of $790.90 million. During the same period last year, the company posted $0.23 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. On average, analysts anticipate that Steelcase Inc. will post 1 EPS for the current year.
Steelcase Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Monday, April 7th. Steelcase’s dividend payout ratio (DPR) is 39.60%.
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.
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