Dynamic Technology Lab Private Ltd Has $603,000 Holdings in Steelcase Inc. (NYSE:SCS)

Dynamic Technology Lab Private Ltd lowered its position in Steelcase Inc. (NYSE:SCSFree Report) by 24.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 44,629 shares of the business services provider’s stock after selling 14,625 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Steelcase were worth $603,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Steelcase in the fourth quarter valued at $8,215,000. Qube Research & Technologies Ltd acquired a new stake in Steelcase during the third quarter worth approximately $4,505,000. Dimensional Fund Advisors LP increased its holdings in Steelcase by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,752,105 shares of the business services provider’s stock worth $64,249,000 after purchasing an additional 352,078 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Steelcase by 175.8% in the third quarter. Acadian Asset Management LLC now owns 487,214 shares of the business services provider’s stock valued at $5,435,000 after buying an additional 310,590 shares during the period. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Steelcase during the 3rd quarter worth approximately $3,107,000. 92.42% of the stock is owned by institutional investors.

Insider Activity at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 4,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $12.61, for a total value of $50,440.00. Following the completion of the transaction, the vice president now owns 108,081 shares in the company, valued at approximately $1,362,901.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Steelcase from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 29th.

Get Our Latest Stock Report on Steelcase

Steelcase Stock Performance

SCS opened at $13.05 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The company’s fifty day moving average price is $12.66 and its two-hundred day moving average price is $12.69. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 1.44 and a beta of 1.32. Steelcase Inc. has a 1-year low of $6.39 and a 1-year high of $14.54.

Steelcase (NYSE:SCSGet Free Report) last posted its earnings results on Wednesday, March 20th. The business services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Steelcase had a return on equity of 12.87% and a net margin of 2.57%. The company had revenue of $775.20 million for the quarter, compared to analyst estimates of $780.25 million. During the same quarter last year, the company earned $0.19 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts expect that Steelcase Inc. will post 0.92 EPS for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Wednesday, April 3rd were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $0.40 annualized dividend and a dividend yield of 3.07%. Steelcase’s payout ratio is 58.82%.

About Steelcase

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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