Steelcase Inc. (NYSE:SCS) Shares Acquired by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC lifted its position in shares of Steelcase Inc. (NYSE:SCS) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,081,354 shares of the business services provider’s stock after acquiring an additional 28,610 shares during the quarter. Bridgeway Capital Management LLC owned 0.95% of Steelcase worth $12,782,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Diversified Trust Co boosted its position in Steelcase by 2.9% during the fourth 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 lifted its position in shares of Steelcase by 0.6% during the 4th quarter. Rhumbline Advisers now owns 155,013 shares of the business services provider’s stock valued at $1,832,000 after buying an additional 932 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Steelcase by 2.0% during the 4th quarter. MetLife Investment Management LLC now owns 54,643 shares of the business services provider’s stock valued at $646,000 after buying an additional 1,079 shares in the last quarter. Hillsdale Investment Management Inc. grew its stake in Steelcase by 0.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 284,800 shares of the business services provider’s stock valued at $3,366,000 after acquiring an additional 1,500 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in Steelcase by 8.3% in the 4th quarter. Sterling Capital Management LLC now owns 34,486 shares of the business services provider’s stock worth $408,000 after acquiring an additional 2,644 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 6,000 shares of Steelcase stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $10.13, for a total value of $60,780.00. Following the completion of the transaction, the vice president now directly owns 139,912 shares of the company’s stock, valued at $1,417,308.56. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 12.96% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Steelcase Stock Down 1.7 %

Shares of SCS opened at $9.97 on Tuesday. Steelcase Inc. has a 52-week low of $9.32 and a 52-week high of $14.74. 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 fifty day simple moving average of $10.63 and a two-hundred day simple moving average of $11.75. The company has a market capitalization of $1.14 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15.

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

Steelcase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.40 annualized dividend and a yield of 4.01%. Steelcase’s dividend payout ratio (DPR) is currently 39.60%.

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.