S.A. Mason LLC Reduces Stock Holdings in Steelcase Inc. (NYSE:SCS)

S.A. Mason LLC lessened its stake in Steelcase Inc. (NYSE:SCS) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,793 shares of the business services provider’s stock after selling 2,565 shares during the quarter. S.A. Mason LLC’s holdings in Steelcase were worth $399,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SCS. Fifth Third Bancorp increased its holdings in shares of Steelcase by 7.4% in the 4th quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider’s stock valued at $42,305,000 after acquiring an additional 245,981 shares during the last quarter. State Street Corp boosted its holdings in Steelcase by 1.0% in the third quarter. State Street Corp now owns 2,260,310 shares of the business services provider’s stock worth $30,714,000 after purchasing an additional 22,226 shares during the period. Geode Capital Management LLC increased its stake in Steelcase by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,180,428 shares of the business services provider’s stock valued at $29,420,000 after purchasing an additional 22,507 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Steelcase by 322.3% during the third quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider’s stock worth $7,720,000 after purchasing an additional 436,754 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of Steelcase by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 557,744 shares of the business services provider’s stock worth $7,524,000 after buying an additional 28,408 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Insider Activity at Steelcase

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

Steelcase Stock Performance

SCS stock opened at $11.48 on Monday. The company has a 50-day simple moving average of $12.22 and a 200 day simple moving average of $12.87. The company has a market capitalization of $1.31 billion, a P/E ratio of 11.96, a PEG ratio of 1.15 and a beta of 1.35. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a fifty-two week low of $10.90 and a fifty-two week high of $14.74.

Steelcase (NYSE:SCS) last issued its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $796.58 million. During the same period in the prior year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts predict that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.10 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.48%. Steelcase’s dividend payout ratio (DPR) is 41.67%.

Wall Street Analyst Weigh In

Separately, Noble Financial assumed 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.

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.