Handelsbanken Fonder AB Grows Holdings in Steelcase Inc. (NYSE:SCS)

Handelsbanken Fonder AB grew its stake in Steelcase Inc. (NYSE:SCS) by 33.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,418 shares of the business services provider’s stock after acquiring an additional 6,600 shares during the period. Handelsbanken Fonder AB’s holdings in Steelcase were worth $312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Steelcase in the 3rd quarter worth approximately $6,167,000. BNP Paribas Financial Markets grew its position in shares of Steelcase by 322.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider’s stock worth $7,720,000 after buying an additional 436,754 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Steelcase by 7.4% during the 4th 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 in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Steelcase by 70.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 448,530 shares of the business services provider’s stock valued at $6,051,000 after acquiring an additional 185,630 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in Steelcase in the third quarter valued at approximately $2,273,000. 92.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the transaction, the vice president now owns 114,481 shares in the company, valued at $1,344,006.94. This trade represents a 4.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 12.96% of the stock is currently owned by insiders.

Steelcase Price Performance

NYSE SCS opened at $11.86 on Tuesday. The firm’s fifty day simple moving average is $11.77 and its two-hundred day simple moving average is $12.67. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a 12-month low of $10.90 and a 12-month high of $14.74. The firm has a market capitalization of $1.35 billion, a P/E ratio of 12.35, a P/E/G ratio of 1.25 and a beta of 1.35.

Steelcase (NYSE:SCS) last released its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The firm had revenue of $794.90 million for the quarter, compared to the consensus estimate of $796.58 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. Analysts forecast that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend was Monday, December 30th. 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.