Steelcase Inc. (NYSE:SCS) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of Steelcase Inc. (NYSE:SCS) by 14.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 23,382 shares of the business services provider’s stock after selling 3,818 shares during the quarter. New York State Common Retirement Fund’s holdings in Steelcase were worth $276,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Steelcase during the 4th quarter worth approximately $36,000. Centiva Capital LP purchased a new position in shares of Steelcase during the third quarter worth $181,000. Creative Planning grew its stake in shares of Steelcase by 8.7% in the third quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock valued at $182,000 after buying an additional 1,075 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Steelcase in the 3rd quarter valued at $347,000. Finally, Quest Partners LLC lifted its stake in Steelcase by 399.0% during the 3rd quarter. Quest Partners LLC now owns 30,247 shares of the business services provider’s stock worth $408,000 after acquiring an additional 24,186 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Activity

In other news, VP Robert G. Krestakos sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the completion of the transaction, the vice president now directly owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This represents a 4.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 12.96% of the company’s stock.

Steelcase Stock Performance

Shares of Steelcase stock opened at $11.48 on Thursday. 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 has a market capitalization of $1.30 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.25 and a beta of 1.35. The business has a 50-day moving average of $11.76 and a 200 day moving average of $12.66. Steelcase Inc. has a 12 month low of $10.90 and a 12 month high of $14.74.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The business had revenue of $794.90 million for the quarter, compared to analyst estimates of $796.58 million. During the same quarter in the prior year, the company earned $0.30 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a $0.10 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.40 dividend on an annualized basis and a yield of 3.49%. Steelcase’s dividend payout ratio is currently 41.67%.

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.