1 week Ago By Defense World Staff
Invesco Ltd. cut its stake in shares of Steelcase Inc. (NYSE:SCS – Free Report) by 3.
9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 320,232 shares of the business services provider’s stock after selling 13,136 shares during the period. Invesco Ltd.
owned about 0.28% of Steelcase worth $3,785,000 at the end of the most recent quarter. Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock.
R Squared Ltd acquired a new position in shares of Steelcase during the 4th quarter worth about $36,000. Olympiad Research LP purchased a new position in shares of Steelcase in the fourth quarter valued at approximately $134,000. Aigen Investment Management LP acquired a new stake in shares of Steelcase in the fourth quarter worth approximately $155,000.
LPL Financial LLC purchased a new stake in shares of Steelcase during the fourth quarter worth approximately $191,000. Finally, Ieq Capital LLC acquired a new position in Steelcase in the 4th quarter valued at $203,000. 92.
42% of the stock is owned by hedge funds and other institutional investors. Steelcase Stock PerformanceNYSE:SCS opened at $9.90 on Monday.
The company’s 50-day moving average is $10.93 and its two-hundred day moving average is $11.88.
Steelcase Inc. has a 1-year low of $9.32 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 firm has a market capitalization of $1.
13 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 1.25 and a beta of 1.
12. Steelcase (NYSE:SCS – Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.
26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06.
The firm had revenue of $788.00 million for the quarter, compared to analysts’ expectations of $790.90 million.
Steelcase had a return on equity of 14.20% and a net margin of 3.63%.
The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.
23 earnings per share. Analysts forecast that Steelcase Inc. will post 1 EPS for the current year.
Steelcase Dividend AnnouncementThe business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.10 dividend.
The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.40 annualized dividend and a yield of 4.
04%. Steelcase’s dividend payout ratio (DPR) is presently 39.60%.
Insider Buying and Selling at SteelcaseIn other news, VP Robert G. Krestakos sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $10.
13, for a total value of $60,780.00. Following the completion of the transaction, the vice president now owns 139,912 shares of the company’s stock, valued at approximately $1,417,308.
56. This trade represents a 4.11 % decrease in their ownership of the stock.
The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.96% of the stock is owned by corporate insiders.
Analysts Set New Price TargetsSeparately, Sidoti upgraded shares of Steelcase to a “hold” rating in a report on Friday, March 28th.Check Out Our Latest Report on SteelcaseSteelcase Profile (Free Report)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.Recommended StoriesFive stocks we like better than SteelcaseInsider Buying Explained: What Investors Need to KnowTexas Instruments: Earnings Beat, Upbeat Guidance Fuel RecoveryInvesting in Travel Stocks BenefitsO’Reilly Automotive: An Anytime Buy for Buy-and-Hold InvestorsProcter & Gamble (NYSE:PG) Pulls Back After Shaky GuidanceChipotle Mexican Grill Serves Smoking Hot Entry Point in Q2.
