Tocqueville Asset Management L.P. Has $1.37 Million Stock Position in Steelcase Inc. (NYSE:SCS)

Tocqueville Asset Management L.P. cut its stake in shares of Steelcase Inc. (NYSE:SCS) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,071 shares of the business services provider’s stock after selling 3,034 shares during the period. Tocqueville Asset Management L.P. owned about 0.10% of Steelcase worth $1,372,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SCS. Diversified Trust Co increased its holdings in Steelcase by 2.9% in the 4th quarter. Diversified Trust Co now owns 31,801 shares of the business services provider’s stock worth $376,000 after purchasing an additional 886 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Steelcase by 0.6% during the fourth quarter. Rhumbline Advisers now owns 155,013 shares of the business services provider’s stock worth $1,832,000 after purchasing an additional 932 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Steelcase by 2.9% in the third quarter. Franklin Resources Inc. now owns 99,574 shares of the business services provider’s stock valued at $1,292,000 after buying an additional 2,791 shares during the period. R Squared Ltd bought a new position in Steelcase in the 4th quarter valued at approximately $36,000. Finally, Handelsbanken Fonder AB boosted its position in Steelcase by 33.3% during the 4th quarter. Handelsbanken Fonder AB now owns 26,418 shares of the business services provider’s stock worth $312,000 after buying an additional 6,600 shares during the period. 92.42% of the stock is currently owned by institutional investors.

Insider Activity

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

Steelcase Trading Up 1.2 %

Shares of NYSE SCS opened at $11.06 on Thursday. The firm has a 50 day moving average price of $11.67 and a two-hundred day moving average price of $12.48. The stock has a market cap of $1.26 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. Steelcase Inc. has a 52-week low of $10.78 and a 52-week high of $14.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share 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 business had revenue of $794.90 million during the quarter, compared to the consensus estimate of $796.58 million. During the same period in the prior year, the business posted $0.30 earnings per share. Steelcase’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities analysts forecast that Steelcase Inc. will post 1 EPS for the current year.

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.