Steelcase Inc. (NYSE:SCS) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. increased its position in Steelcase Inc. (NYSE:SCS) by 150.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 528,658 shares of the business services provider’s stock after buying an additional 317,700 shares during the quarter. Prudential Financial Inc. owned about 0.46% of Steelcase worth $6,249,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cannon Global Investment Management LLC acquired a new stake in Steelcase in the 4th quarter valued at about $215,000. LPL Financial LLC bought a new stake in shares of Steelcase in the 4th quarter worth approximately $191,000. KLP Kapitalforvaltning AS acquired a new stake in Steelcase during the fourth quarter valued at approximately $643,000. Hillsdale Investment Management Inc. boosted its holdings in Steelcase by 0.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 284,800 shares of the business services provider’s stock worth $3,366,000 after buying an additional 1,500 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Steelcase by 10.0% in the fourth quarter. American Century Companies Inc. now owns 3,024,828 shares of the business services provider’s stock worth $35,753,000 after buying an additional 275,369 shares during the last quarter. Institutional investors own 92.42% of the company’s stock.

Insider Activity at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the transaction, the vice president now directly owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.96% of the stock is owned by insiders.

Steelcase Price Performance

NYSE SCS opened at $11.12 on Monday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 11.58, a P/E/G ratio of 1.25 and a beta of 1.33. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. The business’s fifty day moving average is $11.60 and its two-hundred day moving average is $12.33. Steelcase Inc. has a 1 year low of $10.30 and a 1 year high of $14.74.

Steelcase (NYSE:SCS) last announced its earnings results on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. The business had revenue of $788.00 million during the quarter, compared to the consensus estimate of $790.90 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. Steelcase’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 earnings per share. On average, research analysts forecast that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.60%. Steelcase’s dividend payout ratio is currently 41.67%.

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.