Dalton Greiner Hartman Maher & Co. boosted its stake in shares of Steelcase Inc. (NYSE:SCS) by 20.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,681,548 shares of the company’s stock after buying an additional 287,404 shares during the period. Steelcase accounts for approximately 1.5% of Dalton Greiner Hartman Maher & Co.’s holdings, making the stock its 8th largest position. Dalton Greiner Hartman Maher & Co.’s holdings in Steelcase were worth $23,357,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its position in shares of Steelcase by 10.0% in the second quarter. Public Employees Retirement System of Ohio now owns 8,226 shares of the company’s stock worth $112,000 after buying an additional 745 shares during the period. ProShare Advisors LLC increased its position in shares of Steelcase by 3.3% in the second quarter. ProShare Advisors LLC now owns 10,531 shares of the company’s stock worth $143,000 after buying an additional 336 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Steelcase by 47.0% in the third quarter. BNP Paribas Arbitrage SA now owns 10,604 shares of the company’s stock worth $147,000 after buying an additional 3,389 shares during the period. Stifel Financial Corp bought a new position in shares of Steelcase during the second quarter worth about $164,000. Finally, Teacher Retirement System of Texas increased its position in shares of Steelcase by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 12,604 shares of the company’s stock worth $171,000 after buying an additional 1,527 shares during the period. Hedge funds and other institutional investors own 66.19% of the company’s stock.
Steelcase Inc. (NYSE:SCS) traded down 0.926% during midday trading on Thursday, reaching $13.375. The company had a trading volume of 114,327 shares. The company has a 50-day moving average price of $14.11 and a 200-day moving average price of $14.65. Steelcase Inc. has a one year low of $11.67 and a one year high of $20.37. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 9.643 and a beta of 1.21.
Steelcase (NYSE:SCS) last released its quarterly earnings results on Wednesday, September 21st. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The business earned $758 million during the quarter. Steelcase had a return on equity of 17.38% and a net margin of 5.67%. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS. On average, equities analysts expect that Steelcase Inc. will post $1.09 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Tuesday, October 4th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Friday, September 30th. Steelcase’s payout ratio is 35.04%.
Separately, Zacks Investment Research downgraded Steelcase from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th.
Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.
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