Y Intercept Hong Kong Ltd Buys 9,830 Shares of Steelcase Inc. (NYSE:SCS)

Y Intercept Hong Kong Ltd lifted its stake in shares of Steelcase Inc. (NYSE:SCS) by 17.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 64,810 shares of the business services provider’s stock after purchasing an additional 9,830 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Steelcase were worth $766,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Steelcase during the 4th quarter valued at $36,000. Olympiad Research LP bought a new position in Steelcase in the 4th quarter worth about $134,000. Centiva Capital LP bought a new position in Steelcase in the 3rd quarter worth about $181,000. Creative Planning raised its holdings in shares of Steelcase by 8.7% in the 3rd quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock valued at $182,000 after acquiring an additional 1,075 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in shares of Steelcase in the 4th quarter valued at about $203,000. 92.42% of the stock is currently owned by institutional investors.

Steelcase Stock Performance

NYSE:SCS opened at $12.16 on Friday. The business’s 50-day moving average price is $11.76 and its two-hundred day moving average price is $12.68. Steelcase Inc. has a twelve month low of $10.90 and a twelve month high of $14.74. The stock has a market cap of $1.38 billion, a P/E ratio of 12.67, a PEG ratio of 1.25 and a beta of 1.35. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48.

Steelcase (NYSE:SCS) last released its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $796.58 million. During the same quarter last year, the firm posted $0.30 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts predict that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a $0.10 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.29%. Steelcase’s payout ratio is currently 41.67%.

Insider Buying and Selling at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This trade represents a 4.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.96% of the company’s stock.

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.