Steelcase Inc. (NYSE:SCS) Shares Sold by Nia Impact Advisors LLC

Nia Impact Advisors LLC decreased its holdings in Steelcase Inc. (NYSE:SCS) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 153,249 shares of the business services provider’s stock after selling 7,844 shares during the quarter. Nia Impact Advisors LLC owned 0.13% of Steelcase worth $1,811,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rhumbline Advisers grew its position in Steelcase by 0.6% in the fourth quarter. Rhumbline Advisers now owns 155,013 shares of the business services provider’s stock worth $1,832,000 after buying an additional 932 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Steelcase by 2.0% during the 4th quarter. MetLife Investment Management LLC now owns 54,643 shares of the business services provider’s stock valued at $646,000 after acquiring an additional 1,079 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Steelcase by 0.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 284,800 shares of the business services provider’s stock valued at $3,366,000 after acquiring an additional 1,500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Steelcase by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,596 shares of the business services provider’s stock valued at $622,000 after acquiring an additional 1,741 shares in the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of Steelcase by 8.3% during the 4th quarter. Sterling Capital Management LLC now owns 34,486 shares of the business services provider’s stock valued at $408,000 after acquiring an additional 2,644 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Sidoti upgraded shares of Steelcase to a “hold” rating in a report on Friday, March 28th.

Steelcase Trading Down 1.1%

Steelcase stock opened at $10.70 on Wednesday. The company’s fifty day simple moving average is $10.46 and its 200-day simple moving average is $11.66. 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 Inc. has a 12 month low of $9.32 and a 12 month high of $14.74. The stock has a market cap of $1.23 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.25 and a beta of 1.15.

Steelcase (NYSE:SCS) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $790.90 million. During the same quarter in the previous year, the business earned $0.23 EPS. Steelcase’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend was Monday, April 7th. Steelcase’s payout ratio is presently 39.60%.

Insider Activity at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 6,000 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $10.13, for a total transaction of $60,780.00. Following the completion of the transaction, the vice president now owns 139,912 shares of the company’s stock, valued at $1,417,308.56. The trade was a 4.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.96% of the stock is owned by company 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.