Olympiad Research LP Invests $134,000 in Steelcase Inc. (NYSE:SCS)

Olympiad Research LP purchased a new stake in Steelcase Inc. (NYSE:SCS) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,349 shares of the business services provider’s stock, valued at approximately $134,000.

Other hedge funds have also bought and sold shares of the company. Barclays PLC boosted its holdings in Steelcase by 203.1% in the 3rd quarter. Barclays PLC now owns 178,002 shares of the business services provider’s stock valued at $2,402,000 after purchasing an additional 119,268 shares during the period. Geode Capital Management LLC boosted its stake in shares of Steelcase by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,180,428 shares of the business services provider’s stock valued at $29,420,000 after buying an additional 22,507 shares during the period. State Street Corp grew its position in Steelcase by 1.0% during the third quarter. State Street Corp now owns 2,260,310 shares of the business services provider’s stock worth $30,714,000 after buying an additional 22,226 shares in the last quarter. SG Americas Securities LLC bought a new position in Steelcase during the 4th quarter worth $379,000. Finally, BNP Paribas Financial Markets increased its stake in Steelcase by 322.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider’s stock worth $7,720,000 after acquiring an additional 436,754 shares during the period. 92.42% of the stock is owned by institutional investors.

Steelcase Stock Performance

NYSE:SCS opened at $12.32 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. Steelcase Inc. has a fifty-two week low of $10.90 and a fifty-two week high of $14.74. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 1.25 and a beta of 1.35. The stock has a fifty day moving average price of $11.79 and a 200-day moving average price of $12.69.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $796.58 million. During the same quarter in the prior year, the business posted $0.30 earnings per share. Steelcase’s revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.25%. Steelcase’s dividend payout ratio is 41.67%.

Insider Activity at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total value of $58,700.00. Following the sale, the vice president now owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This trade represents a 4.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.96% of the stock is currently owned by insiders.

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.