Intech Investment Management LLC Invests $347,000 in Steelcase Inc. (NYSE:SCS)

Intech Investment Management LLC acquired a new position in Steelcase Inc. (NYSE:SCS) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,757 shares of the business services provider’s stock, valued at approximately $347,000.

Several other institutional investors also recently bought and sold shares of SCS. Victory Capital Management Inc. lifted its position in Steelcase by 129.9% during the second quarter. Victory Capital Management Inc. now owns 522,956 shares of the business services provider’s stock valued at $6,778,000 after purchasing an additional 295,482 shares during the last quarter. American Century Companies Inc. boosted its position in Steelcase by 13.5% in the 2nd quarter. American Century Companies Inc. now owns 2,450,799 shares of the business services provider’s stock valued at $31,762,000 after buying an additional 291,070 shares during the period. Dimensional Fund Advisors LP boosted its position in Steelcase by 4.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,297,183 shares of the business services provider’s stock valued at $68,652,000 after buying an additional 215,729 shares during the period. Cooke & Bieler LP boosted its position in Steelcase by 4.9% in the 2nd quarter. Cooke & Bieler LP now owns 4,002,442 shares of the business services provider’s stock valued at $51,872,000 after buying an additional 186,596 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Steelcase by 70.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 448,530 shares of the business services provider’s stock valued at $6,051,000 after buying an additional 185,630 shares during the period. 92.42% of the stock is owned by hedge funds and other institutional investors.

Steelcase Price Performance

Steelcase stock opened at $13.52 on Wednesday. Steelcase Inc. has a 1 year low of $11.50 and a 1 year high of $14.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.62 and a quick ratio of 1.23. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.37 and a beta of 1.35. The firm has a 50-day moving average of $13.00 and a two-hundred day moving average of $13.17.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Wednesday, September 18th. The business services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02. Steelcase had a net margin of 4.02% and a return on equity of 14.41%. The business had revenue of $855.80 million during the quarter, compared to analyst estimates of $864.17 million. During the same quarter in the previous year, the business posted $0.31 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, research analysts forecast that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.10 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.96%. Steelcase’s dividend payout ratio is currently 37.74%.

Analyst Upgrades and Downgrades

Separately, Noble Financial began coverage on shares of Steelcase in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $16.00 price objective for the company.

Insider Activity

In related news, VP Robert G. Krestakos sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $13.11, for a total transaction of $52,440.00. Following the completion of the transaction, the vice president now owns 119,481 shares in the company, valued at $1,566,395.91. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.96% of the company’s stock.

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.