Thompson Investment Management Inc. Sells 1,676 Shares of Steelcase Inc. (NYSE:SCS)

Thompson Investment Management Inc. cut its stake in Steelcase Inc. (NYSE:SCS) by 0.6% in the 4th quarter, Holdings Channel reports. The firm owned 271,582 shares of the business services provider’s stock after selling 1,676 shares during the period. Thompson Investment Management Inc.’s holdings in Steelcase were worth $3,210,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SCS. R Squared Ltd purchased a new stake in Steelcase during the 4th quarter valued at about $36,000. Centiva Capital LP bought a new stake in Steelcase during the 3rd quarter worth approximately $181,000. Creative Planning raised its stake in Steelcase by 8.7% during the 3rd quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock worth $182,000 after acquiring an additional 1,075 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Steelcase by 33.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 16,028 shares of the business services provider’s stock valued at $207,000 after buying an additional 4,011 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Steelcase during the third quarter valued at approximately $347,000. 92.42% of the stock is currently owned by institutional investors.

Steelcase Trading Down 1.9 %

Steelcase stock opened at $11.37 on Friday. The firm’s 50 day moving average price is $12.00 and its 200-day moving average price is $12.79. Steelcase Inc. has a 1 year low of $10.90 and a 1 year high of $14.74. 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 stock has a market cap of $1.29 billion, a P/E ratio of 11.84, a PEG ratio of 1.16 and a beta of 1.35.

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 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 net margin of 3.63% and a return on equity of 14.20%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share. On average, equities analysts predict that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Monday, December 30th. Steelcase’s payout ratio is currently 41.67%.

Insider Buying and Selling

In related news, VP Robert G. Krestakos sold 5,000 shares of Steelcase stock in a transaction 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.96% of the stock is owned by corporate insiders.

Steelcase Profile

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.