S.A. Mason LLC Has $366,000 Position in Steelcase Inc. (NYSE:SCS)

S.A. Mason LLC lowered its stake in shares of Steelcase Inc. (NYSE:SCS) by 51.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,070 shares of the business services provider’s stock after selling 28,330 shares during the quarter. S.A. Mason LLC’s holdings in Steelcase were worth $366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Steelcase by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,313,399 shares of the business services provider’s stock worth $104,031,000 after buying an additional 159,813 shares during the period. BlackRock Inc. grew its position in shares of Steelcase by 14.3% in the second quarter. BlackRock Inc. now owns 8,350,989 shares of the business services provider’s stock valued at $64,386,000 after purchasing an additional 1,042,474 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Steelcase by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,378,185 shares of the business services provider’s stock worth $33,756,000 after purchasing an additional 207,934 shares during the period. Douglas Lane & Associates LLC lifted its position in shares of Steelcase by 12.7% during the 3rd quarter. Douglas Lane & Associates LLC now owns 4,113,163 shares of the business services provider’s stock worth $45,944,000 after purchasing an additional 462,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Steelcase by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,322,643 shares of the business services provider’s stock valued at $25,944,000 after purchasing an additional 145,328 shares during the period. Institutional investors and hedge funds own 92.42% of the company’s stock.

Insider Activity

In related news, VP Robert G. Krestakos sold 4,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $12.61, for a total value of $50,440.00. Following the completion of the transaction, the vice president now directly owns 108,081 shares of the company’s stock, valued at $1,362,901.41. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.72% of the stock is currently owned by company insiders.

Steelcase Price Performance

NYSE:SCS opened at $12.87 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.54 and a quick ratio of 1.12. Steelcase Inc. has a one year low of $6.39 and a one year high of $14.54. The company has a fifty day moving average price of $12.85 and a 200 day moving average price of $12.11. The stock has a market cap of $1.47 billion, a P/E ratio of 18.93, a PEG ratio of 1.38 and a beta of 1.35.

Steelcase (NYSE:SCS) last announced its quarterly earnings data on Wednesday, March 20th. The business services provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Steelcase had a net margin of 2.57% and a return on equity of 13.00%. The business had revenue of $775.20 million during the quarter, compared to analyst estimates of $780.25 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Analysts anticipate that Steelcase Inc. will post 0.92 earnings per share for the current year.

Steelcase Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, April 2nd. Steelcase’s payout ratio is presently 58.82%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Steelcase from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 21st.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products in the United States and internationally. It operates through Americas, EMEA, and Other 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, and mobile power and screens.