Counterpoint Mutual Funds LLC Has $303,000 Stock Holdings in Steelcase Inc. (NYSE:SCS)

Counterpoint Mutual Funds LLC lowered its stake in shares of Steelcase Inc. (NYSE:SCS) by 35.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,628 shares of the business services provider’s stock after selling 13,902 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Steelcase were worth $303,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Steelcase during the 4th quarter worth about $36,000. Olympiad Research LP bought a new stake in Steelcase during the 4th quarter worth about $134,000. Aigen Investment Management LP bought a new stake in Steelcase during the 4th quarter worth about $155,000. Centiva Capital LP bought a new stake in Steelcase during the 3rd quarter worth about $181,000. Finally, Ieq Capital LLC bought a new stake in Steelcase during the 4th quarter worth about $203,000. Institutional investors own 92.42% of the company’s stock.

Steelcase Stock Down 0.9 %

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

Steelcase (NYSE:SCS) last issued its 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. The company had revenue of $794.90 million for the quarter, compared to analyst estimates of $796.58 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. Equities analysts expect that Steelcase Inc. will post 1 EPS for the current year.

Insider Activity

In other news, VP Robert G. Krestakos sold 5,000 shares of the firm’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 transaction, the vice president now owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This trade represents a 4.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.