Steelcase Inc. (NYSE:SCS) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV decreased its position in Steelcase Inc. (NYSE:SCS) by 7.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,649 shares of the business services provider’s stock after selling 1,265 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Steelcase were worth $185,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Steelcase by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,425,529 shares of the business services provider’s stock worth $64,129,000 after purchasing an additional 47,748 shares during the period. Pzena Investment Management LLC boosted its stake in Steelcase by 2.6% in the 4th quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider’s stock worth $63,513,000 after purchasing an additional 133,893 shares during the period. Fifth Third Bancorp boosted its stake 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 period. American Century Companies Inc. boosted its stake in Steelcase by 10.0% in the 4th quarter. American Century Companies Inc. now owns 3,024,828 shares of the business services provider’s stock worth $35,753,000 after purchasing an additional 275,369 shares during the period. Finally, Northern Trust Corp boosted its stake in Steelcase by 6.1% in the 4th quarter. Northern Trust Corp now owns 1,011,144 shares of the business services provider’s stock worth $11,952,000 after purchasing an additional 58,079 shares during the period. Institutional investors and hedge funds own 92.42% of the company’s stock.

Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 6,000 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $10.13, for a total transaction of $60,780.00. Following the transaction, the vice president now owns 139,912 shares in the company, valued at approximately $1,417,308.56. The trade was a 4.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.96% of the company’s stock.

Steelcase Trading Up 0.0%

Steelcase stock opened at $10.51 on Friday. The company’s fifty day simple moving average is $10.40 and its 200-day simple moving average is $11.62. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a 12 month low of $9.32 and a 12 month high of $14.74. The stock has a market cap of $1.20 billion, a P/E ratio of 10.94, a P/E/G ratio of 1.25 and a beta of 1.15.

Steelcase (NYSE:SCS) last released its quarterly earnings data 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 net margin of 3.63% and a return on equity of 14.20%. 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 EPS. Steelcase’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Monday, April 7th. Steelcase’s payout ratio is presently 39.60%.

Analyst Ratings Changes

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

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.