SG Americas Securities LLC Takes $379,000 Position in Steelcase Inc. (NYSE:SCS)

SG Americas Securities LLC bought a new stake in shares of Steelcase Inc. (NYSE:SCS) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 32,052 shares of the business services provider’s stock, valued at approximately $379,000.

Several other hedge funds have also recently added to or reduced their stakes in SCS. Centiva Capital LP acquired a new stake in shares of Steelcase during the 3rd quarter worth about $181,000. Creative Planning lifted its position in Steelcase by 8.7% during the third quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock valued at $182,000 after buying an additional 1,075 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in Steelcase by 33.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 16,028 shares of the business services provider’s stock valued at $207,000 after buying an additional 4,011 shares in the last quarter. Intech Investment Management LLC acquired a new position in Steelcase during the third quarter valued at approximately $347,000. Finally, CWM LLC raised its stake in shares of Steelcase by 24.5% during the third quarter. CWM LLC now owns 27,055 shares of the business services provider’s stock valued at $365,000 after purchasing an additional 5,324 shares during the period. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Steelcase Stock Down 3.4 %

SCS stock opened at $11.09 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. Steelcase Inc. has a 1-year low of $10.90 and a 1-year high of $14.74. The firm has a fifty day moving average price of $12.17 and a two-hundred day moving average price of $12.85. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.15 and a beta of 1.35.

Steelcase (NYSE:SCS) last announced its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company had revenue of $794.90 million during the quarter, compared to the consensus estimate of $796.58 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts predict that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.61%. The ex-dividend date was Monday, December 30th. Steelcase’s payout ratio is currently 41.67%.

Insider Buying and Selling

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value of $58,700.00. Following the sale, the vice president now directly owns 114,481 shares in the company, valued at approximately $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.96% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.