Dimensional Fund Advisors LP Has $68.65 Million Position in Steelcase Inc. (NYSE:SCS)

Dimensional Fund Advisors LP increased its position in shares of Steelcase Inc. (NYSE:SCS) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,297,183 shares of the business services provider’s stock after buying an additional 215,729 shares during the quarter. Dimensional Fund Advisors LP owned 4.64% of Steelcase worth $68,652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC bought a new stake in Steelcase in the 4th quarter valued at $44,000. Innealta Capital LLC bought a new stake in Steelcase in the second quarter valued at about $93,000. SpiderRock Advisors LLC bought a new stake in Steelcase in the first quarter valued at about $135,000. DekaBank Deutsche Girozentrale acquired a new position in Steelcase in the first quarter worth about $141,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Steelcase by 34,941.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,615 shares of the business services provider’s stock worth $165,000 after purchasing an additional 12,579 shares during the period. 92.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Benchmark upped their price objective on Steelcase from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, June 21st.

Steelcase Stock Up 0.3 %

Shares of NYSE SCS opened at $13.25 on Friday. The business has a fifty day moving average of $13.46 and a two-hundred day moving average of $13.04. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.15 and a current ratio of 1.62. Steelcase Inc. has a 52-week low of $10.29 and a 52-week high of $14.74. The stock has a market cap of $1.51 billion, a PE ratio of 17.43, a PEG ratio of 1.29 and a beta of 1.33.

Steelcase (NYSE:SCS) last released its quarterly earnings results on Wednesday, September 18th. The business services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Steelcase had a net margin of 4.02% and a return on equity of 14.41%. The firm had revenue of $855.80 million for the quarter, compared to analyst estimates of $864.17 million. During the same period in the previous year, the business earned $0.31 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities research analysts expect that Steelcase Inc. will post 1.02 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.40 annualized dividend and a yield of 3.02%. Steelcase’s payout ratio is 52.63%.

Insiders Place Their Bets

In other news, SVP Allan W. Smith, Jr. sold 70,444 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $13.84, for a total value of $974,944.96. Following the completion of the sale, the senior vice president now directly owns 184,743 shares in the company, valued at $2,556,843.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Allan W. Smith, Jr. sold 70,444 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $13.84, for a total value of $974,944.96. Following the completion of the transaction, the senior vice president now owns 184,743 shares in the company, valued at approximately $2,556,843.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Nicole Cherie Mcgrath sold 15,749 shares of Steelcase stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $13.94, for a total value of $219,541.06. Following the completion of the sale, the chief accounting officer now directly owns 18,453 shares of the company’s stock, valued at $257,234.82. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,877 shares of company stock valued at $2,228,248. 12.96% of the stock is currently owned by corporate insiders.

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.