Teacher Retirement System of Texas acquired a new stake in Steelcase Inc. (NYSE:SCS) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 30,128 shares of the business services provider’s stock, valued at approximately $458,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its holdings in Steelcase by 9.6% in the second quarter. Public Employees Retirement System of Ohio now owns 10,833 shares of the business services provider’s stock worth $152,000 after purchasing an additional 947 shares during the period. Acadian Asset Management LLC acquired a new stake in Steelcase in the fourth quarter worth $184,000. Bredin Investment LLC acquired a new stake in Steelcase in the fourth quarter worth $240,000. Macquarie Group Ltd. acquired a new stake in Steelcase in the third quarter worth $263,000. Finally, Jane Street Group LLC acquired a new stake in Steelcase in the third quarter worth $285,000. Institutional investors and hedge funds own 64.62% of the company’s stock.
In related news, Director Peter M. Wege II sold 13,300 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $15.14, for a total transaction of $201,362.00. Following the sale, the director now directly owns 254,244 shares in the company, valued at $3,849,254.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sara E. Armbruster sold 3,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $14.80, for a total transaction of $44,400.00. Following the sale, the vice president now owns 69,870 shares in the company, valued at $1,034,076. The disclosure for this sale can be found here. Company insiders own 18.87% of the company’s stock.
Shares of Steelcase Inc. (NYSE SCS) opened at $14.40 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1,666.54, a price-to-earnings ratio of 16.18 and a beta of 1.28. Steelcase Inc. has a twelve month low of $12.50 and a twelve month high of $18.15.
Steelcase (NYSE:SCS) last posted its earnings results on Tuesday, December 19th. The business services provider reported $0.22 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The company had revenue of $772.10 million for the quarter, compared to analyst estimates of $762.37 million. During the same period last year, the business posted $0.30 earnings per share. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. sell-side analysts anticipate that Steelcase Inc. will post 0.81 EPS for the current year.
Separately, Zacks Investment Research lowered shares of Steelcase from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $16.00.
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Steelcase Company Profile
Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.
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