Nia Impact Advisors LLC Has $1.81 Million Stake in Steelcase Inc. (NYSE:SCS)

Nia Impact Advisors LLC decreased its position in shares of Steelcase Inc. (NYSE:SCS) by 4.9% in the fourth quarter, Holdings Channel reports. The fund owned 153,249 shares of the business services provider’s stock after selling 7,844 shares during the period. Nia Impact Advisors LLC’s holdings in Steelcase were worth $1,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of SCS. Teacher Retirement System of Texas lifted its position in Steelcase by 109.8% during the 4th quarter. Teacher Retirement System of Texas now owns 775,177 shares of the business services provider’s stock worth $9,163,000 after acquiring an additional 405,614 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Steelcase by 93.6% during the 4th quarter. Millennium Management LLC now owns 694,625 shares of the business services provider’s stock worth $8,210,000 after purchasing an additional 335,889 shares during the period. Brandywine Global Investment Management LLC bought a new position in shares of Steelcase during the 4th quarter worth about $3,769,000. Prudential Financial Inc. increased its holdings in shares of Steelcase by 150.6% during the 4th quarter. Prudential Financial Inc. now owns 528,658 shares of the business services provider’s stock worth $6,249,000 after purchasing an additional 317,700 shares during the period. Finally, Norges Bank bought a new position in shares of Steelcase during the 4th quarter worth about $3,279,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Steelcase Stock Performance

NYSE:SCS opened at $10.70 on Wednesday. Steelcase Inc. has a 12-month low of $9.32 and a 12-month 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 firm has a market capitalization of $1.23 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15. The firm has a 50-day moving average price of $10.46 and a 200 day moving average price of $11.66.

Steelcase (NYSE:SCS) last posted its quarterly earnings results 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. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The firm had revenue of $788.00 million during the quarter, compared to analyst estimates of $790.90 million. During the same quarter in the prior year, the business posted $0.23 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. 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 was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.40 annualized dividend and a yield of 3.74%. Steelcase’s dividend payout ratio is 39.60%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Steelcase news, VP Robert G. Krestakos sold 6,000 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were 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 of the company’s stock, valued at approximately $1,417,308.56. This represents a 4.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.