Alliancebernstein L.P. lifted its holdings in Steelcase Inc. (NYSE:SCS) by 13.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,133,810 shares of the business services provider’s stock after buying an additional 489,955 shares during the quarter. Alliancebernstein L.P. owned 3.56% of Steelcase worth $62,834,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Macquarie Group Ltd. purchased a new stake in Steelcase during the third quarter worth $263,000. Mork Capital Management LLC boosted its position in Steelcase by 38.1% during the fourth quarter. Mork Capital Management LLC now owns 65,600 shares of the business services provider’s stock worth $997,000 after purchasing an additional 18,100 shares in the last quarter. Trexquant Investment LP purchased a new stake in Steelcase during the third quarter worth $947,000. SeaBridge Investment Advisors LLC boosted its position in Steelcase by 10.0% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 385,338 shares of the business services provider’s stock worth $5,857,000 after purchasing an additional 35,018 shares in the last quarter. Finally, Tieton Capital Management LLC purchased a new stake in Steelcase during the fourth quarter worth $1,735,000. Hedge funds and other institutional investors own 64.62% of the company’s stock.
In other news, VP Sara E. Armbruster sold 3,000 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $14.80, for a total value of $44,400.00. Following the completion of the transaction, the vice president now directly owns 69,870 shares of the company’s stock, valued at $1,034,076. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Peter M. Wege II sold 13,300 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $15.14, for a total value of $201,362.00. Following the completion of the transaction, the director now directly owns 254,244 shares of the company’s stock, valued at $3,849,254.16. The disclosure for this sale can be found here. Insiders own 18.87% of the company’s stock.
Shares of Steelcase Inc. (SCS) opened at $14.70 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1,710.00, a price-to-earnings ratio of 16.52 and a beta of 1.27. Steelcase Inc. has a 12-month low of $12.50 and a 12-month high of $18.15.
Steelcase (NYSE:SCS) last posted its earnings results on Tuesday, December 19th. The business services provider reported $0.22 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.22. Steelcase had a return on equity of 13.62% and a net margin of 3.49%. The company had revenue of $772.10 million for the quarter, compared to the consensus estimate of $762.37 million. During the same period in the previous year, the business earned $0.30 earnings per share. Steelcase’s quarterly revenue was down 1.8% compared to the same quarter last year. equities analysts predict that Steelcase Inc. will post 0.81 EPS for the current year.
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Steelcase Company Profile
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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