Integrated Quantitative Investments LLC Acquires New Stake in Steelcase Inc. (NYSE:SCS)

Integrated Quantitative Investments LLC bought a new position in Steelcase Inc. (NYSE:SCS) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 63,634 shares of the business services provider’s stock, valued at approximately $752,000. Integrated Quantitative Investments LLC owned approximately 0.06% of Steelcase at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SCS. Trexquant Investment LP grew its holdings in shares of Steelcase by 167.2% during the fourth quarter. Trexquant Investment LP now owns 236,366 shares of the business services provider’s stock valued at $2,794,000 after buying an additional 147,908 shares during the last quarter. Franklin Resources Inc. boosted its stake in Steelcase by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 114,443 shares of the business services provider’s stock valued at $1,353,000 after purchasing an additional 14,869 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Steelcase by 6.4% in the 4th quarter. Alliancebernstein L.P. now owns 392,722 shares of the business services provider’s stock worth $4,642,000 after purchasing an additional 23,640 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new position in shares of Steelcase in the fourth quarter worth $3,769,000. Finally, Norges Bank purchased a new stake in shares of Steelcase during the fourth quarter valued at $3,279,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Steelcase Price Performance

Shares of SCS opened at $10.69 on Friday. The firm has a fifty day simple moving average of $11.54 and a two-hundred day simple moving average of $12.26. The firm has a market cap of $1.22 billion, a PE ratio of 11.14, a P/E/G 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 $10.25 and a 1-year high of $14.74.

Steelcase (NYSE:SCS) last posted its earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $788.00 million for the quarter, compared to the consensus estimate of $790.90 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. Steelcase’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. On average, equities analysts anticipate that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Monday, April 7th. Steelcase’s payout ratio is 39.60%.

Insiders Place Their Bets

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was 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 of the company’s stock, valued at approximately $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 12.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Sidoti raised Steelcase to a “hold” rating in a research report on Friday, March 28th.

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.