Empowered Funds LLC Purchases 28,610 Shares of Steelcase Inc. (NYSE:SCS)

Empowered Funds LLC increased its position in shares of Steelcase Inc. (NYSE:SCS) by 5.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 586,354 shares of the business services provider’s stock after purchasing an additional 28,610 shares during the period. Empowered Funds LLC’s holdings in Steelcase were worth $6,931,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SCS. R Squared Ltd acquired a new position in shares of Steelcase during the fourth quarter worth approximately $36,000. Centiva Capital LP bought a new stake in Steelcase during the 3rd quarter valued at $181,000. Creative Planning raised its holdings in Steelcase by 8.7% during the third quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock worth $182,000 after buying an additional 1,075 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Steelcase by 33.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 16,028 shares of the business services provider’s stock valued at $207,000 after buying an additional 4,011 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Steelcase during the third quarter valued at about $347,000. Institutional investors own 92.42% of the company’s stock.

Steelcase Trading Up 3.0 %

SCS opened at $11.70 on Tuesday. The firm has a market capitalization of $1.33 billion, a PE ratio of 12.19, a P/E/G ratio of 1.16 and a beta of 1.35. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. Steelcase Inc. has a fifty-two week low of $10.90 and a fifty-two week high of $14.74. The company’s 50-day moving average is $11.96 and its 200 day moving average is $12.77.

Steelcase (NYSE:SCS) last posted its 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 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%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. As a group, research analysts predict that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Monday, December 30th were issued a $0.10 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.42%. Steelcase’s dividend payout ratio is currently 41.67%.

Insider Activity at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value of $58,700.00. Following the completion of 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 sale was disclosed in a document filed 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.