Steelcase Inc. (NYSE:SCS) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. trimmed its holdings in shares of Steelcase Inc. (NYSE:SCS) by 24.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 497,423 shares of the business services provider’s stock after selling 156,797 shares during the period. Jupiter Asset Management Ltd. owned 0.44% of Steelcase worth $5,880,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Steelcase during the fourth quarter worth $36,000. Olympiad Research LP acquired a new stake in shares of Steelcase during the fourth quarter worth $134,000. Aigen Investment Management LP acquired a new stake in shares of Steelcase during the fourth quarter worth $155,000. Centiva Capital LP acquired a new stake in shares of Steelcase in the 3rd quarter worth about $181,000. Finally, Ieq Capital LLC acquired a new stake in shares of Steelcase in the 4th quarter worth about $203,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Steelcase Stock Down 2.4 %

SCS stock opened at $10.82 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a fifty-two week low of $10.78 and a fifty-two week high of $14.74. The firm’s 50-day simple moving average is $11.72 and its 200 day simple moving average is $12.58. The stock has a market cap of $1.23 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33.

Steelcase (NYSE:SCS) last released its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $796.58 million. During the same quarter last year, the company earned $0.30 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were issued a $0.10 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.70%. Steelcase’s dividend payout ratio (DPR) is presently 41.67%.

Insider Activity at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction dated 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 transaction, the vice president now owns 114,481 shares in the company, valued at $1,344,006.94. This represents a 4.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 12.96% of the stock is currently owned by 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.