Brevan Howard Capital Management LP Acquires Shares of 22,012 Steelcase Inc. (NYSE:SCS)

Brevan Howard Capital Management LP bought a new position in shares of Steelcase Inc. (NYSE:SCS) during the 4th quarter, HoldingsChannel reports. The fund bought 22,012 shares of the business services provider’s stock, valued at approximately $260,000.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new stake in Steelcase during the fourth quarter worth about $36,000. Quarry LP lifted its holdings in shares of Steelcase by 162.6% during the 4th quarter. Quarry LP now owns 8,344 shares of the business services provider’s stock worth $99,000 after acquiring an additional 5,166 shares during the period. Olympiad Research LP acquired a new stake in shares of Steelcase during the 4th quarter worth approximately $134,000. Boothbay Fund Management LLC bought a new position in Steelcase in the fourth quarter valued at approximately $135,000. Finally, Mariner LLC acquired a new position in Steelcase during the fourth quarter valued at approximately $139,000. Institutional investors own 92.42% of the company’s stock.

Steelcase Stock Down 0.3%

SCS stock opened at $10.45 on Monday. The firm has a 50-day moving average price of $10.49 and a 200-day moving average price of $11.68. Steelcase Inc. has a 12 month low of $9.32 and a 12 month high of $14.74. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.20 billion, a P/E ratio of 10.89, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15.

Steelcase (NYSE:SCS) last issued its earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $788.00 million for the quarter, compared to analyst estimates of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. As a group, equities research analysts anticipate that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a yield of 3.83%. Steelcase’s dividend payout ratio is currently 39.60%.

Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 6,000 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $10.13, for a total transaction of $60,780.00. Following the sale, the vice president now directly owns 139,912 shares in the company, valued at approximately $1,417,308.56. The trade was a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 12.96% of the company’s stock.

Analysts Set New Price Targets

Separately, Sidoti raised Steelcase to a “hold” rating in a report on Friday, March 28th.

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.