Capital Fund Management S.A. lowered its stake in Steelcase Inc. (NYSE:SCS) by 82.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,964 shares of the company’s stock after selling 102,992 shares during the period. Capital Fund Management S.A.’s holdings in Steelcase were worth $298,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Pacad Investment Ltd. bought a new stake in shares of Steelcase during the first quarter valued at about $395,000. TIAA CREF Investment Management LLC increased its stake in shares of Steelcase by 10.3% in the first quarter. TIAA CREF Investment Management LLC now owns 299,553 shares of the company’s stock valued at $4,469,000 after buying an additional 27,934 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Steelcase by 1,160.7% in the first quarter. Prudential Financial Inc. now owns 1,326,977 shares of the company’s stock valued at $19,798,000 after buying an additional 1,221,719 shares in the last quarter. BlackRock Inc. increased its stake in shares of Steelcase by 19.7% in the first quarter. BlackRock Inc. now owns 18,974 shares of the company’s stock valued at $283,000 after buying an additional 3,123 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in shares of Steelcase by 37.1% in the first quarter. BlackRock Group LTD now owns 79,262 shares of the company’s stock valued at $1,182,000 after buying an additional 21,434 shares in the last quarter. 66.19% of the stock is owned by institutional investors.
Steelcase Inc. (NYSE:SCS) traded down 0.37% on Friday, reaching $13.35. 648,588 shares of the company were exchanged. Steelcase Inc. has a 12-month low of $11.67 and a 12-month high of $20.37. The company’s 50-day moving average price is $14.04 and its 200-day moving average price is $14.63. The stock has a market capitalization of $1.58 billion, a P/E ratio of 9.63 and a beta of 1.21.
Steelcase (NYSE:SCS) last issued its quarterly earnings results on Wednesday, September 21st. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.32. The firm had revenue of $758 million for the quarter. Steelcase had a net margin of 5.67% and a return on equity of 17.38%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. Equities research analysts anticipate that Steelcase Inc. will post $1.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Tuesday, October 4th were given a $0.12 dividend. The ex-dividend date was Friday, September 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.60%. Steelcase’s dividend payout ratio (DPR) is currently 35.04%.
Separately, Zacks Investment Research downgraded shares of Steelcase from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th.
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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