Harbor Capital Advisors Inc. Has $231,000 Stock Holdings in Steelcase Inc. (NYSE:SCS)

Harbor Capital Advisors Inc. trimmed its position in Steelcase Inc. (NYSE:SCS) by 48.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,106 shares of the business services provider’s stock after selling 19,671 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Steelcase were worth $231,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SCS. Rhumbline Advisers raised its stake in Steelcase by 0.6% in the fourth quarter. Rhumbline Advisers now owns 155,013 shares of the business services provider’s stock valued at $1,832,000 after buying an additional 932 shares during the period. MetLife Investment Management LLC raised its stake in Steelcase by 2.0% in the 4th quarter. MetLife Investment Management LLC now owns 54,643 shares of the business services provider’s stock valued at $646,000 after acquiring an additional 1,079 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in Steelcase by 0.5% during the 4th quarter. Hillsdale Investment Management Inc. now owns 284,800 shares of the business services provider’s stock valued at $3,366,000 after purchasing an additional 1,500 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Steelcase by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,596 shares of the business services provider’s stock worth $622,000 after purchasing an additional 1,741 shares during the period. Finally, State of Wyoming increased its holdings in shares of Steelcase by 9.3% in the fourth quarter. State of Wyoming now owns 20,668 shares of the business services provider’s stock valued at $244,000 after purchasing an additional 1,762 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In other Steelcase news, VP Robert G. Krestakos sold 6,000 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was 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 $1,417,308.56. This trade represents a 4.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.75% of the stock is owned by company insiders.

Steelcase Price Performance

Shares of NYSE SCS opened at $10.14 on Friday. The firm has a market cap of $1.16 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 1.25 and a beta of 1.14. The business’s 50 day moving average is $10.20 and its 200-day moving average is $11.24. 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.

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, topping 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 firm had revenue of $788.00 million for the quarter, compared to analysts’ expectations of $790.90 million. During the same quarter last year, the business earned $0.23 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts predict that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders 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 annualized dividend and a dividend yield of 3.94%. Steelcase’s dividend payout ratio is presently 39.60%.

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.