Victory Capital Management Inc. Increases Position in Steelcase Inc. (NYSE:SCS)

Victory Capital Management Inc. raised its holdings in shares of Steelcase Inc. (NYSE:SCS) by 33.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 458,414 shares of the business services provider’s stock after buying an additional 114,311 shares during the period. Victory Capital Management Inc. owned about 0.40% of Steelcase worth $5,418,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Y Intercept Hong Kong Ltd boosted its position in shares of Steelcase by 17.9% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 64,810 shares of the business services provider’s stock valued at $766,000 after buying an additional 9,830 shares during the period. Olympiad Research LP purchased a new stake in shares of Steelcase in the fourth quarter valued at approximately $134,000. Handelsbanken Fonder AB boosted its holdings in shares of Steelcase by 33.3% in the fourth quarter. Handelsbanken Fonder AB now owns 26,418 shares of the business services provider’s stock valued at $312,000 after purchasing an additional 6,600 shares during the period. Ieq Capital LLC purchased a new stake in shares of Steelcase in the fourth quarter valued at approximately $203,000. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Steelcase by 36.7% in the fourth quarter. Sanctuary Advisors LLC now owns 101,997 shares of the business services provider’s stock valued at $1,187,000 after purchasing an additional 27,392 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Buying and Selling

In related news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were 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 owns 114,481 shares of the company’s stock, valued at $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 12.96% of the stock is currently owned by insiders.

Steelcase Stock Up 1.7 %

Shares of NYSE SCS opened at $10.97 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.25 and a beta of 1.33. The stock has a 50 day moving average price of $11.69 and a 200 day moving average price of $12.54. Steelcase Inc. has a 52-week low of $10.78 and a 52-week high of $14.74.

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 analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $794.90 million during the quarter, compared to analyst estimates of $796.58 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. Steelcase’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. Sell-side analysts expect that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Monday, December 30th. Steelcase’s dividend payout ratio (DPR) is 41.67%.

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.