Pzena Investment Management LLC Acquires 133,893 Shares of Steelcase Inc. (NYSE:SCS)

Pzena Investment Management LLC boosted its holdings in Steelcase Inc. (NYSE:SCS) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,373,342 shares of the business services provider’s stock after acquiring an additional 133,893 shares during the period. Pzena Investment Management LLC owned 4.73% of Steelcase worth $63,513,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Steelcase in the 4th quarter valued at $36,000. Olympiad Research LP acquired a new position in Steelcase in the 4th quarter valued at $134,000. Aigen Investment Management LP acquired a new position in Steelcase in the 4th quarter valued at $155,000. Centiva Capital LP acquired a new position in Steelcase in the 3rd quarter valued at $181,000. Finally, Creative Planning grew its holdings in Steelcase by 8.7% in the 3rd quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock valued at $182,000 after buying an additional 1,075 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

Steelcase Stock Performance

Shares of NYSE SCS opened at $11.51 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. The stock’s fifty day moving average price is $11.74 and its two-hundred day moving average price is $12.61. Steelcase Inc. has a one year low of $10.90 and a one year high of $14.74. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.25 and a beta of 1.33.

Steelcase (NYSE:SCS) last released its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.07. The company had revenue of $794.90 million for the quarter, compared to analyst estimates of $796.58 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. Steelcase’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. On average, equities analysts forecast that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Monday, December 30th. Steelcase’s dividend payout ratio (DPR) is currently 41.67%.

Insider Transactions at Steelcase

In other news, VP Robert G. Krestakos sold 5,000 shares of the 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 sale, the vice president now directly owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. This represents a 4.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.