American Century Companies Inc. Grows Stake in Steelcase Inc. (NYSE:SCS)

American Century Companies Inc. grew its holdings in shares of Steelcase Inc. (NYSE:SCS) by 10.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,024,828 shares of the business services provider’s stock after purchasing an additional 275,369 shares during the quarter. American Century Companies Inc.’s holdings in Steelcase were worth $35,753,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC purchased a new stake in Steelcase in the third quarter valued at about $6,167,000. BNP Paribas Financial Markets grew its stake in shares of Steelcase by 322.3% during the third 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 last quarter. Teacher Retirement System of Texas increased its holdings in shares of Steelcase by 109.8% during the fourth quarter. Teacher Retirement System of Texas now owns 775,177 shares of the business services provider’s stock valued at $9,163,000 after acquiring an additional 405,614 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Steelcase by 7.4% in the 4th quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider’s stock valued at $42,305,000 after purchasing an additional 245,981 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its stake in Steelcase by 2.6% in the 4th quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider’s stock worth $63,513,000 after purchasing an additional 133,893 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Steelcase Trading Down 1.6 %

Shares of Steelcase stock opened at $11.12 on Friday. The firm’s 50 day simple moving average is $11.60 and its two-hundred day simple moving average is $12.35. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.25 and a beta of 1.33. Steelcase Inc. has a 12-month low of $10.30 and a 12-month high of $14.74. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48.

Steelcase (NYSE:SCS) last released its earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm had revenue of $788.00 million for the quarter, compared to the consensus estimate of $790.90 million. During the same period in the prior year, the firm earned $0.23 EPS. The firm’s revenue was up 1.7% on a year-over-year basis. Analysts predict that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Monday, April 7th. Steelcase’s dividend payout ratio (DPR) is 41.67%.

Insider Activity at Steelcase

In other Steelcase 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 completion of the sale, the vice president now directly owns 114,481 shares in the company, valued at approximately $1,344,006.94. The trade was a 4.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 12.96% of the stock is 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.