Tocqueville Asset Management L.P. Has $1.37 Million Position in Steelcase Inc. (NYSE:SCS)

Tocqueville Asset Management L.P. trimmed its holdings in Steelcase Inc. (NYSE:SCS) by 2.5% during the fourth quarter, Holdings Channel reports. The firm owned 116,071 shares of the business services provider’s stock after selling 3,034 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Steelcase were worth $1,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. R Squared Ltd acquired a new position in Steelcase in the fourth quarter valued at approximately $36,000. Olympiad Research LP bought a new stake in shares of Steelcase in the 4th quarter valued at $134,000. Aigen Investment Management LP acquired a new position in shares of Steelcase during the 4th quarter valued at $155,000. Centiva Capital LP bought a new position in Steelcase during the third quarter worth $181,000. Finally, Ieq Capital LLC acquired a new stake in Steelcase in the fourth quarter worth $203,000. Institutional investors own 92.42% of the company’s stock.

Steelcase Price Performance

Shares of NYSE SCS opened at $11.06 on Thursday. The firm has a market capitalization of $1.26 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.25 and a beta of 1.33. The firm’s 50-day moving average price is $11.67 and its 200-day moving average price is $12.48. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a 1-year low of $10.78 and a 1-year high of $14.74.

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

Insider Activity

In related news, VP Robert G. Krestakos sold 5,000 shares of Steelcase stock in a transaction on 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 sale, the vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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.