D. E. Shaw & Co. Inc. Has $607,000 Stock Holdings in Steelcase Inc. (NYSE:SCS)

D. E. Shaw & Co. Inc. reduced its position in Steelcase Inc. (NYSE:SCS) by 53.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 51,352 shares of the business services provider’s stock after selling 59,862 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Steelcase were worth $607,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC raised its position in shares of Steelcase by 203.1% during the 3rd quarter. Barclays PLC now owns 178,002 shares of the business services provider’s stock valued at $2,402,000 after acquiring an additional 119,268 shares during the last quarter. Northern Trust Corp grew its stake in shares of Steelcase by 6.1% during the fourth 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. SG Americas Securities LLC bought a new stake in Steelcase in the fourth quarter valued at about $379,000. MetLife Investment Management LLC increased its holdings in Steelcase by 2.0% in the fourth quarter. MetLife Investment Management LLC now owns 54,643 shares of the business services provider’s stock valued at $646,000 after purchasing an additional 1,079 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in Steelcase by 36.7% in the fourth quarter. Sanctuary Advisors LLC now owns 101,997 shares of the business services provider’s stock valued at $1,187,000 after buying an additional 27,392 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Steelcase Stock Down 0.5%

Shares of SCS stock opened at $10.10 on Monday. The firm’s fifty day moving average price is $10.32 and its two-hundred day moving average price is $11.54. 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 1 year low of $9.32 and a 1 year high of $14.74. The firm has a market capitalization of $1.16 billion, a P/E ratio of 10.52, a PEG ratio of 1.25 and a beta of 1.15.

Steelcase (NYSE:SCS) last announced 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 quarter last year, the company earned $0.23 EPS. Steelcase’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts predict that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a yield of 3.96%. Steelcase’s payout ratio is 39.60%.

Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 6,000 shares of Steelcase stock in a transaction dated Monday, April 14th. The shares were 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 owns 139,912 shares of the company’s stock, valued at $1,417,308.56. This trade represents a 4.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 12.96% of the company’s stock.

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.