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

Empowered Funds LLC lifted its position in shares of Steelcase Inc. (NYSE:SCS) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 586,354 shares of the business services provider’s stock after purchasing an additional 28,610 shares during the period. Empowered Funds LLC owned about 0.52% of Steelcase worth $6,931,000 as of its most recent filing with the Securities and Exchange Commission.

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

Steelcase Trading Up 3.0 %

Shares of SCS stock opened at $11.70 on Tuesday. Steelcase Inc. has a 1-year low of $10.90 and a 1-year 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. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 1.16 and a beta of 1.35. The stock has a 50-day moving average of $11.96 and a 200-day moving average of $12.77.

Steelcase (NYSE:SCS) last released 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 business had revenue of $794.90 million during the quarter, compared to the consensus estimate of $796.58 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, equities research analysts forecast that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Announces Dividend

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

Insider Buying and Selling at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was 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 in the company, valued at approximately $1,344,006.94. This represents a 4.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.96% of the company’s stock.

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.