Steelcase Inc. (NYSE:SCS) Stake Boosted by Voya Investment Management LLC

Voya Investment Management LLC boosted its stake in shares of Steelcase Inc. (NYSE:SCS) by 35.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,211 shares of the business services provider’s stock after buying an additional 14,044 shares during the period. Voya Investment Management LLC’s holdings in Steelcase were worth $641,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of Steelcase during the fourth quarter valued at approximately $36,000. Olympiad Research LP acquired a new stake in Steelcase during the 4th quarter valued at $134,000. Mariner LLC purchased a new stake in shares of Steelcase in the fourth quarter valued at $139,000. Aigen Investment Management LP acquired a new stake in shares of Steelcase in the fourth quarter worth $155,000. Finally, LPL Financial LLC purchased a new position in shares of Steelcase during the fourth quarter valued at $191,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Steelcase Stock Up 6.0 %

Steelcase stock opened at $10.51 on Friday. Steelcase Inc. has a twelve month low of $9.32 and a twelve month high of $14.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. The firm has a market cap of $1.20 billion, a PE ratio of 10.94, a P/E/G ratio of 1.25 and a beta of 1.15. The firm’s 50 day moving average price is $10.52 and its two-hundred day moving average price is $11.71.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business had revenue of $788.00 million for the quarter, compared to the consensus estimate of $790.90 million. During the same period in the prior year, the business posted $0.23 earnings per share. Steelcase’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts predict that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Monday, April 7th. Steelcase’s dividend payout ratio (DPR) is presently 39.60%.

Wall Street Analysts Forecast Growth

Separately, Sidoti raised Steelcase to a “hold” rating in a research note on Friday, March 28th.

Insider Activity

In related news, VP Robert G. Krestakos sold 6,000 shares of Steelcase stock in a transaction on Monday, April 14th. The shares were sold at an average price of $10.13, for a total value of $60,780.00. Following the completion of the sale, the vice president now owns 139,912 shares of the company’s stock, valued at approximately $1,417,308.56. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.96% of the stock is owned by corporate insiders.

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.