Steelcase Inc. (NYSE:SCS) Position Decreased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. decreased its holdings in shares of Steelcase Inc. (NYSE:SCS) by 24.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 497,423 shares of the business services provider’s stock after selling 156,797 shares during the period. Jupiter Asset Management Ltd.’s holdings in Steelcase were worth $5,880,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Barclays PLC boosted its position in shares of Steelcase by 203.1% during the 3rd quarter. Barclays PLC now owns 178,002 shares of the business services provider’s stock valued at $2,402,000 after purchasing an additional 119,268 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Steelcase by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,180,428 shares of the business services provider’s stock valued at $29,420,000 after purchasing an additional 22,507 shares in the last quarter. State Street Corp boosted its position in shares of Steelcase by 1.0% during the 3rd quarter. State Street Corp now owns 2,260,310 shares of the business services provider’s stock valued at $30,714,000 after purchasing an additional 22,226 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Steelcase during the 4th quarter valued at about $379,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Steelcase by 322.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider’s stock valued at $7,720,000 after purchasing an additional 436,754 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

Insiders Place Their Bets

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value of $58,700.00. Following the completion of the transaction, the vice president now directly owns 114,481 shares in the company, valued at $1,344,006.94. This trade represents a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 12.96% of the company’s stock.

Steelcase Stock Performance

NYSE:SCS opened at $10.82 on Friday. Steelcase Inc. has a twelve month low of $10.78 and a twelve 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 company has a 50-day moving average of $11.72 and a 200-day moving average of $12.58. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 11.27, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33.

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

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Monday, December 30th. Steelcase’s payout ratio is 41.67%.

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.