Segall Bryant & Hamill LLC Invests $2.27 Million in Steelcase Inc. (NYSE:SCS)

Segall Bryant & Hamill LLC purchased a new stake in Steelcase Inc. (NYSE:SCS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 168,471 shares of the business services provider’s stock, valued at approximately $2,273,000. Segall Bryant & Hamill LLC owned approximately 0.15% of Steelcase as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Steelcase by 4.0% in the first quarter. Vanguard Group Inc. now owns 10,153,754 shares of the business services provider’s stock valued at $132,811,000 after purchasing an additional 387,861 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Steelcase by 0.5% during the 2nd quarter. Pzena Investment Management LLC now owns 7,092,675 shares of the business services provider’s stock valued at $91,921,000 after acquiring an additional 33,024 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Steelcase by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,297,183 shares of the business services provider’s stock worth $68,652,000 after acquiring an additional 215,729 shares during the last quarter. Cooke & Bieler LP boosted its holdings in Steelcase by 4.9% during the 2nd quarter. Cooke & Bieler LP now owns 4,002,442 shares of the business services provider’s stock worth $51,872,000 after acquiring an additional 186,596 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Steelcase by 13.5% in the 2nd quarter. American Century Companies Inc. now owns 2,450,799 shares of the business services provider’s stock worth $31,762,000 after acquiring an additional 291,070 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Noble Financial started coverage on shares of Steelcase in a report on Wednesday, October 9th. They set an “outperform” rating and a $16.00 price target on the stock.

Steelcase Stock Performance

Shares of Steelcase stock opened at $13.27 on Friday. The business’s fifty day simple moving average is $12.99 and its 200 day simple moving average is $13.16. The company has a current ratio of 1.62, a quick ratio of 1.23 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a 12 month low of $11.50 and a 12 month high of $14.74. The firm has a market capitalization of $1.51 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.30 and a beta of 1.34.

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

Steelcase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Monday, September 30th. Steelcase’s dividend payout ratio is currently 37.74%.

Insider Transactions at Steelcase

In related news, VP Robert G. Krestakos sold 4,000 shares of Steelcase stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $13.11, for a total value of $52,440.00. Following the completion of the sale, the vice president now owns 119,481 shares of the company’s stock, valued at approximately $1,566,395.91. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.96% of the stock is currently owned by company insiders.

Steelcase 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.