Y Intercept Hong Kong Ltd Boosts Stock Position in Steelcase Inc. (NYSE:SCS)

Y Intercept Hong Kong Ltd boosted its holdings in Steelcase Inc. (NYSE:SCS) by 17.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,810 shares of the business services provider’s stock after purchasing an additional 9,830 shares during the period. Y Intercept Hong Kong Ltd owned about 0.06% of Steelcase worth $766,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd purchased a new position in Steelcase in the fourth quarter worth $36,000. Olympiad Research LP purchased a new position in Steelcase in the fourth quarter worth $134,000. Centiva Capital LP purchased a new position in Steelcase in the third quarter worth $181,000. Creative Planning boosted its position in Steelcase by 8.7% in the third quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock worth $182,000 after purchasing an additional 1,075 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Steelcase by 33.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 16,028 shares of the business services provider’s stock worth $207,000 after purchasing an additional 4,011 shares during the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Steelcase Stock Up 0.1 %

SCS stock opened at $12.16 on Friday. The stock’s fifty day simple moving average is $11.76 and its two-hundred day simple moving average is $12.68. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a 1-year low of $10.90 and a 1-year high of $14.74. The stock has a market cap of $1.38 billion, a P/E ratio of 12.67, a P/E/G ratio of 1.25 and a beta of 1.35.

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

Steelcase Announces Dividend

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

Insider Activity

In other news, VP Robert G. Krestakos sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the transaction, the vice president now owns 114,481 shares of the company’s stock, valued at $1,344,006.94. This represents a 4.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.96% of the company’s stock.

Steelcase 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.