XTX Topco Ltd Sells 7,491 Shares of Steelcase Inc. (NYSE:SCS)

XTX Topco Ltd decreased its position in shares of Steelcase Inc. (NYSE:SCS) by 25.8% in the 3rd quarter, Holdings Channel reports. The fund owned 21,493 shares of the business services provider’s stock after selling 7,491 shares during the quarter. XTX Topco Ltd’s holdings in Steelcase were worth $290,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pzena Investment Management LLC grew its stake in shares of 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 worth $91,921,000 after acquiring an additional 33,024 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of 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 period. Cooke & Bieler LP grew its stake in shares of 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 period. American Century Companies Inc. lifted its holdings in Steelcase by 13.5% during 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 purchasing an additional 291,070 shares in the last quarter. Finally, State Street Corp lifted its holdings in Steelcase by 1.0% during the 3rd quarter. State Street Corp now owns 2,260,310 shares of the business services provider’s stock worth $30,714,000 after purchasing an additional 22,226 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

Insider Buying and Selling at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 4,000 shares of the firm’s 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 sale, the vice president now owns 119,481 shares of the company’s stock, valued at $1,566,395.91. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 12.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Steelcase Stock Performance

Shares of SCS opened at $13.05 on Wednesday. The stock’s 50-day simple moving average is $13.04 and its 200 day simple moving average is $13.17. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.23 and a current ratio of 1.62. Steelcase Inc. has a 52-week low of $11.50 and a 52-week high of $14.74.

Steelcase (NYSE:SCS) last issued its quarterly earnings data on Wednesday, September 18th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Steelcase had a return on equity of 14.41% and a net margin of 4.02%. The business had revenue of $855.80 million for the quarter, compared to analysts’ expectations of $864.17 million. During the same quarter in the prior year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. Research analysts forecast that Steelcase Inc. will post 1 EPS for the current fiscal year.

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.