Renaissance Technologies LLC Has $2.66 Million Stock Holdings in Steelcase Inc. (NYSE:SCS)

Renaissance Technologies LLC lifted its holdings in shares of Steelcase Inc. (NYSE:SCS) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 224,700 shares of the business services provider’s stock after purchasing an additional 19,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.20% of Steelcase worth $2,656,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SCS. Barclays PLC increased its position in Steelcase by 203.1% during the third quarter. Barclays PLC now owns 178,002 shares of the business services provider’s stock worth $2,402,000 after buying an additional 119,268 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 acquiring an additional 22,507 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Steelcase in the 4th quarter valued at approximately $379,000. Fifth Third Bancorp lifted its holdings in Steelcase by 7.4% in the 4th quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider’s stock worth $42,305,000 after purchasing an additional 245,981 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its position in Steelcase by 36.7% during the fourth quarter. Sanctuary Advisors LLC now owns 101,997 shares of the business services provider’s stock worth $1,187,000 after purchasing an additional 27,392 shares during the period. Institutional investors 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 research note on Friday, March 28th.

Steelcase Price Performance

NYSE SCS opened at $9.94 on Friday. The stock has a 50-day simple moving average of $10.97 and a 200 day simple moving average of $11.91. Steelcase Inc. has a twelve month low of $9.32 and a twelve month high of $14.74. The stock has a market capitalization of $1.13 billion, a PE ratio of 10.35, a P/E/G ratio of 1.25 and a beta of 1.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 earnings per share 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 company had revenue of $788.00 million during the quarter, compared to analysts’ expectations of $790.90 million. During the same period in the prior year, the business earned $0.23 earnings per share. Steelcase’s revenue for the quarter was up 1.7% compared to the same quarter last year. Research analysts anticipate that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 7th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Monday, April 7th. Steelcase’s dividend payout ratio is currently 39.60%.

Insider Activity at Steelcase

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

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.