Steelcase Inc. (NYSE:SCS) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its stake in shares of Steelcase Inc. (NYSE:SCS) by 12.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,759 shares of the business services provider’s stock after selling 13,310 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.08% of Steelcase worth $1,073,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SCS. Hotchkis & Wiley Capital Management LLC bought a new position in Steelcase during the 3rd quarter valued at $6,167,000. BNP Paribas Financial Markets boosted its stake in Steelcase by 322.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider’s stock valued at $7,720,000 after acquiring an additional 436,754 shares during the last quarter. Fifth Third Bancorp boosted its stake in Steelcase by 7.4% during the 4th quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider’s stock valued at $42,305,000 after acquiring an additional 245,981 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Steelcase by 70.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 448,530 shares of the business services provider’s stock valued at $6,051,000 after acquiring an additional 185,630 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in Steelcase during the 3rd quarter valued at $2,273,000. 92.42% of the stock is currently owned by institutional investors.

Steelcase Stock Performance

Steelcase stock opened at $12.16 on Friday. The company has a market cap of $1.38 billion, a PE ratio of 12.67, a P/E/G ratio of 1.25 and a beta of 1.35. The company has a fifty day moving average price of $11.76 and a two-hundred day moving average price of $12.68. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. Steelcase Inc. has a 12 month low of $10.90 and a 12 month high of $14.74.

Steelcase (NYSE:SCS) last posted its earnings results on Wednesday, December 18th. The business services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.23 by $0.07. The firm had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $796.58 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. Research analysts expect that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Monday, December 30th. Steelcase’s dividend payout ratio (DPR) is presently 41.67%.

Insider Transactions at Steelcase

In other news, VP Robert G. Krestakos sold 5,000 shares of the business’s 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 completion of the sale, the vice president now directly owns 114,481 shares in the company, valued at approximately $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.96% of the stock is currently owned by company insiders.

Steelcase Company 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.