Green Alpha Advisors LLC Sells 6,246 Shares of Steelcase Inc. (NYSE:SCS)

Green Alpha Advisors LLC trimmed its stake in Steelcase Inc. (NYSE:SCS) by 4.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 135,122 shares of the business services provider’s stock after selling 6,246 shares during the period. Steelcase comprises approximately 1.3% of Green Alpha Advisors LLC’s holdings, making the stock its 23rd largest position. Green Alpha Advisors LLC’s holdings in Steelcase were worth $1,597,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale lifted its position in Steelcase by 8.1% in the second quarter. DekaBank Deutsche Girozentrale now owns 12,017 shares of the business services provider’s stock worth $153,000 after buying an additional 897 shares during the last quarter. Centiva Capital LP bought a new stake in shares of Steelcase in the 3rd quarter worth about $181,000. Creative Planning boosted its stake in shares of Steelcase by 8.7% during the 3rd quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock worth $182,000 after purchasing an additional 1,075 shares during the period. Intech Investment Management LLC bought a new position in Steelcase during the 3rd quarter valued at about $347,000. Finally, CWM LLC raised its position in Steelcase by 24.5% in the 3rd quarter. CWM LLC now owns 27,055 shares of the business services provider’s stock worth $365,000 after purchasing an additional 5,324 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Analyst Ratings Changes

Separately, Noble Financial initiated coverage on Steelcase in a research report on Wednesday, October 9th. They set an “outperform” rating and a $16.00 target price for the company.

Steelcase Price Performance

Shares of SCS stock opened at $10.98 on Monday. The company’s 50-day simple moving average is $12.69 and its two-hundred day simple moving average is $13.03. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.62 and a quick ratio of 1.23. Steelcase Inc. has a one year low of $10.93 and a one year high of $14.74. The company has a market capitalization of $1.25 billion, a P/E ratio of 10.36, a P/E/G ratio of 1.29 and a beta of 1.36.

Steelcase (NYSE:SCS) last announced its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.23 by $0.07. The firm had revenue of $794.90 million for the quarter, compared to analyst estimates of $796.58 million. Steelcase had a return on equity of 14.41% and a net margin of 4.02%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. As a group, equities analysts anticipate that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be given a $0.10 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.64%. Steelcase’s payout ratio is presently 41.67%.

Insider Activity

In other Steelcase news, VP Robert G. Krestakos sold 4,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $13.11, for a total transaction of $52,440.00. Following the completion of the sale, the vice president now owns 119,481 shares in the company, valued at $1,566,395.91. This represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.96% of the company’s stock.

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.