Mork Capital Management LLC lifted its stake in shares of Steelcase Inc. (NYSE:SCS) by 38.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65,600 shares of the business services provider’s stock after acquiring an additional 18,100 shares during the quarter. Mork Capital Management LLC’s holdings in Steelcase were worth $997,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Steelcase by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,352,061 shares of the business services provider’s stock worth $46,929,000 after acquiring an additional 31,353 shares during the period. Macquarie Group Ltd. purchased a new stake in shares of Steelcase during the third quarter worth $263,000. Fox Run Management L.L.C. purchased a new stake in shares of Steelcase during the third quarter worth $256,000. Teachers Advisors LLC increased its position in shares of Steelcase by 4.4% during the second quarter. Teachers Advisors LLC now owns 156,596 shares of the business services provider’s stock worth $2,192,000 after acquiring an additional 6,535 shares during the period. Finally, FormulaFolio Investments LLC purchased a new stake in shares of Steelcase during the third quarter worth $513,000. 62.79% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Peter M. Wege II sold 13,300 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $15.14, for a total transaction of $201,362.00. Following the completion of the sale, the director now owns 254,244 shares in the company, valued at $3,849,254.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sara E. Armbruster sold 3,000 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $14.80, for a total transaction of $44,400.00. Following the sale, the vice president now owns 69,870 shares of the company’s stock, valued at approximately $1,034,076. The disclosure for this sale can be found here. 18.87% of the stock is currently owned by corporate insiders.
Separately, Zacks Investment Research lowered Steelcase from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $16.00.
Steelcase Inc. (NYSE SCS) opened at $15.35 on Monday. The company has a market capitalization of $1,782.67, a price-to-earnings ratio of 17.06 and a beta of 1.20. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.36. Steelcase Inc. has a twelve month low of $12.50 and a twelve month high of $18.15.
Steelcase (NYSE:SCS) last released its quarterly earnings data on Tuesday, December 19th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The company had revenue of $772.10 million during the quarter, compared to the consensus estimate of $762.37 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Steelcase’s revenue for the quarter was down 1.8% on a year-over-year basis. equities analysts expect that Steelcase Inc. will post 0.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Friday, December 29th were paid a $0.1275 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.51 annualized dividend and a yield of 3.32%. Steelcase’s dividend payout ratio is presently 57.30%.
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Steelcase Company Profile
Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.
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