Charles Schwab Investment Management Inc. Reduces Stake in Steelcase Inc. (NYSE:SCS)

Charles Schwab Investment Management Inc. lowered its position in Steelcase Inc. (NYSE:SCS) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,075,074 shares of the business services provider’s stock after selling 2,605 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.82% of Steelcase worth $24,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SCS. Diversified Trust Co boosted its position in Steelcase by 2.9% in the 4th quarter. Diversified Trust Co now owns 31,801 shares of the business services provider’s stock worth $376,000 after purchasing an additional 886 shares in the last quarter. Rhumbline Advisers boosted its position in Steelcase by 0.6% in the 4th quarter. Rhumbline Advisers now owns 155,013 shares of the business services provider’s stock worth $1,832,000 after purchasing an additional 932 shares in the last quarter. Franklin Resources Inc. boosted its position in Steelcase by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 99,574 shares of the business services provider’s stock worth $1,292,000 after purchasing an additional 2,791 shares in the last quarter. R Squared Ltd purchased a new position in shares of Steelcase during the 4th quarter valued at approximately $36,000. Finally, Handelsbanken Fonder AB lifted its position in shares of Steelcase by 33.3% during the 4th quarter. Handelsbanken Fonder AB now owns 26,418 shares of the business services provider’s stock valued at $312,000 after buying an additional 6,600 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Activity

In related news, VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This represents a 4.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.96% of the company’s stock.

Steelcase Trading Down 0.9 %

Shares of NYSE:SCS opened at $10.92 on Wednesday. Steelcase Inc. has a 1 year low of $10.78 and a 1 year high of $14.74. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. The business’s 50 day moving average price is $11.67 and its 200-day moving average price is $12.49.

Steelcase (NYSE:SCS) last announced its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm had revenue of $794.90 million for the quarter, compared to analyst estimates of $796.58 million. During the same quarter last year, the firm posted $0.30 EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

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.