Hillsdale Investment Management Inc. Acquires 1,500 Shares of Steelcase Inc. (NYSE:SCS)

Hillsdale Investment Management Inc. increased its holdings in shares of Steelcase Inc. (NYSE:SCS) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 284,800 shares of the business services provider’s stock after acquiring an additional 1,500 shares during the period. Hillsdale Investment Management Inc.’s holdings in Steelcase were worth $3,366,000 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 business. R Squared Ltd purchased a new stake in Steelcase in the fourth quarter worth $36,000. Olympiad Research LP bought a new stake in Steelcase during the 4th quarter valued at about $134,000. Aigen Investment Management LP purchased a new stake in Steelcase in the 4th quarter valued at about $155,000. Centiva Capital LP bought a new position in Steelcase in the 3rd quarter worth about $181,000. Finally, Ieq Capital LLC purchased a new position in shares of Steelcase during the fourth quarter worth approximately $203,000. 92.42% of the stock is owned by institutional investors.

Insider Activity at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of Steelcase stock in a transaction that occurred 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 transaction, the vice president now directly owns 114,481 shares of the company’s stock, valued at $1,344,006.94. This trade represents a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 12.96% of the stock is currently owned by corporate insiders.

Steelcase Stock Performance

Steelcase stock opened at $10.55 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. The company has a market capitalization of $1.20 billion, a PE ratio of 10.98, a P/E/G ratio of 1.25 and a beta of 1.33. The company has a 50 day moving average price of $11.65 and a 200-day moving average price 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 earnings results 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. The business had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $796.58 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. As a group, equities analysts forecast that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase 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.