Teacher Retirement System of Texas Has $9.16 Million Stake in Steelcase Inc. (NYSE:SCS)

Teacher Retirement System of Texas raised its position in shares of Steelcase Inc. (NYSE:SCS) by 109.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 775,177 shares of the business services provider’s stock after buying an additional 405,614 shares during the period. Teacher Retirement System of Texas owned about 0.68% of Steelcase worth $9,163,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SCS. Quest Partners LLC increased its holdings in shares of Steelcase by 399.0% during the third quarter. Quest Partners LLC now owns 30,247 shares of the business services provider’s stock worth $408,000 after buying an additional 24,186 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Steelcase during the third quarter worth approximately $2,273,000. Intech Investment Management LLC acquired a new stake in shares of Steelcase in the third quarter valued at approximately $347,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Steelcase in the third quarter valued at approximately $602,000. Finally, FMR LLC increased its holdings in shares of Steelcase by 3,862.6% in the third quarter. FMR LLC now owns 101,523 shares of the business services provider’s stock valued at $1,370,000 after purchasing an additional 98,961 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Steelcase Stock Performance

Shares of Steelcase stock opened at $10.55 on Friday. 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 firm has a market cap of $1.20 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.25 and a beta of 1.33. The firm has a 50 day simple moving average of $11.65 and a 200 day simple moving average of $12.43. Steelcase Inc. has a fifty-two week low of $10.51 and a fifty-two week high of $14.74.

Steelcase (NYSE:SCS) last issued its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. The business had revenue of $794.90 million during the quarter, compared to analyst estimates of $796.58 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. Steelcase’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. Sell-side analysts predict that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Insider Activity at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of Steelcase stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total transaction of $58,700.00. Following the completion of the sale, the vice president now 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.96% of the stock is currently owned by company insiders.

Steelcase Company Profile

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.