28,115 Shares in Steelcase Inc. (NYSE:SCS) Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Steelcase Inc. (NYSE:SCS) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 28,115 shares of the business services provider’s stock, valued at approximately $332,000.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Steelcase in the fourth quarter worth about $36,000. Olympiad Research LP purchased a new stake in shares of Steelcase during the 4th quarter worth approximately $134,000. Aigen Investment Management LP bought a new position in shares of Steelcase during the 4th quarter valued at approximately $155,000. Centiva Capital LP purchased a new position in shares of Steelcase in the third quarter valued at $181,000. Finally, LPL Financial LLC bought a new stake in Steelcase in the fourth quarter worth $191,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Steelcase Trading Up 1.1 %

Shares of SCS stock opened at $11.45 on Thursday. The company has a market cap of $1.30 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. The stock’s 50 day simple moving average is $11.57 and its two-hundred day simple moving average is $12.29. Steelcase Inc. has a 1 year low of $10.30 and a 1 year high of $14.74.

Steelcase (NYSE:SCS) last announced its earnings results 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 return on equity of 14.20% and a net margin of 3.63%. 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 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Research analysts predict that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Monday, April 7th. Steelcase’s dividend payout ratio is currently 39.60%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,344,006.94. The trade was a 4.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.96% of the company’s stock.

Steelcase 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.