Cooke & Bieler LP Decreases Position in Steelcase Inc. (NYSE:SCS)

Cooke & Bieler LP trimmed its position in shares of Steelcase Inc. (NYSE:SCS) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,755,611 shares of the business services provider’s stock after selling 166,021 shares during the period. Cooke & Bieler LP’s holdings in Steelcase were worth $44,391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of SCS. Pzena Investment Management LLC grew its stake in Steelcase by 2.6% in the 4th quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider’s stock valued at $63,513,000 after buying an additional 133,893 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Steelcase by 7.4% in the fourth quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider’s stock worth $42,305,000 after acquiring an additional 245,981 shares during the period. State Street Corp grew its position in shares of Steelcase by 1.0% in the third 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. Geode Capital Management LLC raised its stake 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 during the period. Finally, Empowered Funds LLC lifted its holdings in Steelcase by 5.1% during the 4th quarter. Empowered Funds LLC now owns 586,354 shares of the business services provider’s stock worth $6,931,000 after purchasing an additional 28,610 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Steelcase

In other news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction that occurred 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 directly owns 114,481 shares in the company, valued at approximately $1,344,006.94. The trade was a 4.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.96% of the company’s stock.

Steelcase Stock Down 1.9 %

Shares of NYSE SCS opened at $11.51 on Tuesday. The business has a 50-day simple moving average of $11.74 and a two-hundred day simple moving average of $12.61. Steelcase Inc. has a 52 week low of $10.90 and a 52 week high of $14.74. The company has a market cap of $1.31 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.25 and a beta of 1.33. 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 (NYSE:SCS) last released its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. The firm had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $796.58 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Research analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Monday, December 30th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Monday, December 30th. Steelcase’s dividend payout ratio (DPR) is currently 41.67%.

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.