Bailard Inc. lifted its position in shares of Steelcase Inc. (NYSE:SCS) by 7.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,900 shares of the business services provider’s stock after buying an additional 1,500 shares during the quarter. Bailard Inc.’s holdings in Steelcase were worth $385,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of SCS. NEXT Financial Group Inc boosted its stake in Steelcase by 22.2% during the second quarter. NEXT Financial Group Inc now owns 4,400 shares of the business services provider’s stock worth $75,000 after acquiring an additional 800 shares in the last quarter. Advisor Group Inc. boosted its stake in Steelcase by 25.3% during the second quarter. Advisor Group Inc. now owns 6,313 shares of the business services provider’s stock worth $108,000 after acquiring an additional 1,276 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Steelcase by 70.0% during the third quarter. Nisa Investment Advisors LLC now owns 8,500 shares of the business services provider’s stock worth $156,000 after acquiring an additional 3,500 shares in the last quarter. AdvisorNet Financial Inc bought a new position in Steelcase during the second quarter worth $180,000. Finally, Bessemer Group Inc. bought a new position in Steelcase during the second quarter worth $215,000. Institutional investors own 68.16% of the company’s stock.
In other Steelcase news, VP Eddy F. Schmitt sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $18.95, for a total value of $473,750.00. Following the transaction, the vice president now directly owns 38,789 shares of the company’s stock, valued at $735,051.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David C. Sylvester sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $18.23, for a total transaction of $136,725.00. Following the completion of the transaction, the chief financial officer now directly owns 405,316 shares in the company, valued at $7,388,910.68. The disclosure for this sale can be found here. Insiders sold 40,300 shares of company stock worth $754,203 over the last ninety days. Insiders own 17.04% of the company’s stock.
Shares of NYSE SCS opened at $18.33 on Wednesday. The firm has a market cap of $2.12 billion, a PE ratio of 15.28 and a beta of 1.40. Steelcase Inc. has a 12-month low of $13.96 and a 12-month high of $19.65. The company’s fifty day simple moving average is $17.50 and its 200 day simple moving average is $16.81. The company has a quick ratio of 1.20, a current ratio of 1.57 and a debt-to-equity ratio of 0.76.
Steelcase (NYSE:SCS) last issued its earnings results on Friday, September 20th. The business services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.07. Steelcase had a net margin of 3.80% and a return on equity of 18.13%. The business had revenue of $998.00 million for the quarter, compared to analyst estimates of $980.87 million. During the same period in the prior year, the firm earned $0.36 earnings per share. Steelcase’s revenue was up 14.0% on a year-over-year basis. On average, equities analysts predict that Steelcase Inc. will post 1.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 14th. Shareholders of record on Monday, September 30th were paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Friday, September 27th. Steelcase’s dividend payout ratio (DPR) is 48.33%.
Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including worktools.
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