Kapitalo Investimentos Ltda Acquires Shares of 11,023 Steelcase Inc. (NYSE:SCS)

Kapitalo Investimentos Ltda acquired a new stake in Steelcase Inc. (NYSE:SCS) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 11,023 shares of the business services provider’s stock, valued at approximately $121,000.

Other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in Steelcase by 6.1% in the 4th quarter. Northern Trust Corp now owns 1,011,144 shares of the business services provider’s stock valued at $11,952,000 after purchasing an additional 58,079 shares in the last quarter. Millennium Management LLC lifted its position 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 valued at $8,210,000 after acquiring an additional 335,889 shares during the period. Deutsche Bank AG lifted its position in shares of Steelcase by 57.0% during the 4th quarter. Deutsche Bank AG now owns 80,787 shares of the business services provider’s stock valued at $955,000 after acquiring an additional 29,325 shares during the period. SG Americas Securities LLC lifted its position in shares of Steelcase by 42.0% during the 1st quarter. SG Americas Securities LLC now owns 45,528 shares of the business services provider’s stock valued at $499,000 after acquiring an additional 13,476 shares during the period. Finally, 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 acquiring an additional 1,079 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Steelcase Price Performance

SCS stock opened at $10.58 on Friday. The firm has a 50 day moving average of $10.50 and a 200-day moving average of $10.85. Steelcase Inc. has a 12-month low of $9.31 and a 12-month high of $14.74. The company has a current ratio of 1.65, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.01 and a beta of 1.13.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Wednesday, June 25th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.08. Steelcase had a net margin of 3.84% and a return on equity of 14.49%. The company had revenue of $779.00 million during the quarter, compared to the consensus estimate of $759.90 million. During the same period last year, the firm earned $0.16 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts expect that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.40 annualized dividend and a dividend yield of 3.78%. Steelcase’s dividend payout ratio is currently 38.83%.

Insider Activity

In related news, VP Robert G. Krestakos sold 12,000 shares of Steelcase stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $10.63, for a total transaction of $127,560.00. Following the completion of the transaction, the vice president directly owned 127,912 shares in the company, valued at $1,359,704.56. The trade was a 8.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.75% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Steelcase from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 27th.

About Steelcase

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.