Semanteon Capital Management LP Acquires Shares of 34,822 Steelcase Inc. (NYSE:SCS)

Semanteon Capital Management LP acquired a new stake in Steelcase Inc. (NYSE:SCS) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 34,822 shares of the business services provider’s stock, valued at approximately $412,000.

A number of other large investors also recently modified their holdings of the company. Teacher Retirement System of Texas increased its position in shares of Steelcase by 109.8% in the 4th quarter. Teacher Retirement System of Texas now owns 775,177 shares of the business services provider’s stock valued at $9,163,000 after purchasing an additional 405,614 shares during the last quarter. Gallacher Capital Management LLC grew its position in shares of Steelcase by 34.5% in the 4th quarter. Gallacher Capital Management LLC now owns 49,670 shares of the business services provider’s stock valued at $587,000 after buying an additional 12,748 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Steelcase by 3.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 424,802 shares of the business services provider’s stock valued at $5,021,000 after buying an additional 12,846 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of Steelcase by 2.6% in the 4th quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider’s stock valued at $63,513,000 after buying an additional 133,893 shares during the last quarter. Finally, AlphaQuest LLC grew its position in shares of Steelcase by 111.9% in the 4th quarter. AlphaQuest LLC now owns 64,098 shares of the business services provider’s stock valued at $758,000 after buying an additional 33,851 shares during the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Steelcase Trading Down 4.0 %

NYSE SCS opened at $10.55 on Friday. 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 firm’s fifty day moving average price is $11.65 and its 200 day moving average price is $12.44. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. Steelcase Inc. has a 12 month low of $10.51 and a 12 month high of $14.74.

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

Insider Buying and Selling

In related news, VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total transaction of $58,700.00. Following the completion of the sale, the vice president now owns 114,481 shares in the company, valued at $1,344,006.94. This represents a 4.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.96% of the stock is owned by company insiders.

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.