Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 96,677 Steelcase Inc. (NYSE:SCS)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Steelcase Inc. (NYSE:SCS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 96,677 shares of the business services provider’s stock, valued at approximately $1,060,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.08% of Steelcase at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Bailard Inc. purchased a new position in Steelcase in the 1st quarter valued at $510,000. Victory Capital Management Inc. raised its position in shares of Steelcase by 208.4% in the first quarter. Victory Capital Management Inc. now owns 1,413,845 shares of the business services provider’s stock valued at $15,496,000 after buying an additional 955,431 shares during the last quarter. MQS Management LLC acquired a new stake in shares of Steelcase in the first quarter valued at about $195,000. Xponance Inc. purchased a new position in shares of Steelcase in the first quarter worth about $269,000. Finally, Envestnet Asset Management Inc. boosted its position in Steelcase by 40.4% during the first quarter. Envestnet Asset Management Inc. now owns 556,520 shares of the business services provider’s stock worth $6,099,000 after acquiring an additional 160,030 shares during the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Steelcase from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 27th.

Steelcase Price Performance

NYSE:SCS opened at $10.15 on Friday. Steelcase Inc. has a one year low of $9.31 and a one year high of $14.36. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.65. The stock has a market cap of $1.16 billion, a PE ratio of 9.85, a P/E/G ratio of 0.98 and a beta of 1.13. The stock has a 50 day moving average price of $10.53 and a 200 day moving average price of $10.83.

Steelcase (NYSE:SCS) last released its quarterly earnings data on Wednesday, June 25th. The business services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. Steelcase had a return on equity of 14.49% and a net margin of 3.84%. The company had revenue of $779.00 million for the quarter, compared to analyst estimates of $759.90 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts expect that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.9%. The ex-dividend date was Monday, July 7th. Steelcase’s dividend payout ratio (DPR) is presently 38.83%.

Insider Transactions at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 12,000 shares of Steelcase stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $10.63, for a total transaction of $127,560.00. Following the transaction, the vice president directly owned 127,912 shares of the company’s stock, valued at $1,359,704.56. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.75% 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.