Cooke & Bieler LP Boosts Position in Steelcase Inc. (SCS)
Cooke & Bieler LP increased its stake in shares of Steelcase Inc. (NYSE:SCS) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 767,565 shares of the company’s stock after buying an additional 4,170 shares during the period. Cooke & Bieler LP owned 0.64% of Steelcase worth $10,416,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Steelcase by 19.7% in the first quarter. BlackRock Inc. now owns 18,974 shares of the company’s stock valued at $283,000 after buying an additional 3,123 shares during the period. Strs Ohio raised its stake in shares of Steelcase by 5.5% in the second quarter. Strs Ohio now owns 65,400 shares of the company’s stock worth $887,000 after buying an additional 3,400 shares during the last quarter. Eqis Capital Management Inc. raised its stake in shares of Steelcase by 116.4% in the second quarter. Eqis Capital Management Inc. now owns 32,424 shares of the company’s stock worth $440,000 after buying an additional 17,440 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Steelcase during the first quarter worth about $277,000. Finally, BlackRock Group LTD raised its stake in shares of Steelcase by 37.1% in the first quarter. BlackRock Group LTD now owns 79,262 shares of the company’s stock worth $1,182,000 after buying an additional 21,434 shares during the last quarter. 65.97% of the stock is currently owned by institutional investors.
Shares of Steelcase Inc. (NYSE:SCS) traded down 0.74% during mid-day trading on Tuesday, hitting $13.50. The stock had a trading volume of 502,580 shares. The firm’s 50 day moving average price is $14.01 and its 200-day moving average price is $14.61. The company has a market cap of $1.60 billion, a PE ratio of 9.73 and a beta of 1.21. Steelcase Inc. has a one year low of $11.67 and a one year high of $20.37.
Steelcase (NYSE:SCS) last released its earnings results on Wednesday, September 21st. The company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The business earned $758 million during the quarter. Steelcase had a net margin of 5.67% and a return on equity of 17.38%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period last year, the business posted $0.35 EPS. On average, equities research analysts anticipate that Steelcase Inc. will post $1.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Tuesday, October 4th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Friday, September 30th. Steelcase’s dividend payout ratio (DPR) is currently 35.04%.
Separately, Zacks Investment Research raised Steelcase from a “sell” rating to a “hold” rating in a research report on Thursday, August 25th.
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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