Brandywine Global Investment Management LLC Takes Position in Steelcase Inc. (NYSE:SCS)

Brandywine Global Investment Management LLC bought a new stake in Steelcase Inc. (NYSE:SCS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 318,900 shares of the business services provider’s stock, valued at approximately $3,769,000. Brandywine Global Investment Management LLC owned 0.28% of Steelcase at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Diversified Trust Co boosted its stake in shares of Steelcase by 2.9% in the 4th quarter. Diversified Trust Co now owns 31,801 shares of the business services provider’s stock valued at $376,000 after buying an additional 886 shares during the period. Rhumbline Advisers lifted its stake in Steelcase by 0.6% in the fourth quarter. Rhumbline Advisers now owns 155,013 shares of the business services provider’s stock worth $1,832,000 after acquiring an additional 932 shares during the last quarter. Hillsdale Investment Management Inc. grew its holdings in Steelcase by 0.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 284,800 shares of the business services provider’s stock worth $3,366,000 after acquiring an additional 1,500 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Steelcase by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 99,574 shares of the business services provider’s stock valued at $1,292,000 after purchasing an additional 2,791 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Steelcase in the 4th quarter valued at $36,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Steelcase Price Performance

SCS stock opened at $11.33 on Wednesday. The business has a 50 day moving average price of $11.57 and a 200 day moving average price of $12.30. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.25 and a beta of 1.33. Steelcase Inc. has a fifty-two week low of $10.30 and a fifty-two week high of $14.74.

Steelcase (NYSE:SCS) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. The business had revenue of $788.00 million during the quarter, compared to the consensus estimate of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. Equities research analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Monday, April 7th. Steelcase’s payout ratio is 39.60%.

Analyst Upgrades and Downgrades

Separately, Sidoti upgraded shares of Steelcase to a “hold” rating in a research note on Friday, March 28th.

Insider Transactions at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of Steelcase stock in a transaction that occurred 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. The trade was a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 12.96% of the company’s stock.

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.