Arjuna Capital Raises Holdings in Steelcase Inc. (NYSE:SCS)

Arjuna Capital grew its position in Steelcase Inc. (NYSE:SCS) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 152,400 shares of the business services provider’s stock after buying an additional 1,674 shares during the quarter. Arjuna Capital owned 0.13% of Steelcase worth $2,056,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SCS. Vanguard Group Inc. lifted its holdings in shares of Steelcase by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 10,153,754 shares of the business services provider’s stock worth $132,811,000 after buying an additional 387,861 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Steelcase by 129.9% during the 2nd quarter. Victory Capital Management Inc. now owns 522,956 shares of the business services provider’s stock worth $6,778,000 after purchasing an additional 295,482 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Steelcase by 13.5% during the 2nd quarter. American Century Companies Inc. now owns 2,450,799 shares of the business services provider’s stock worth $31,762,000 after purchasing an additional 291,070 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Steelcase by 370.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 337,839 shares of the business services provider’s stock worth $4,419,000 after purchasing an additional 266,070 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Steelcase by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,297,183 shares of the business services provider’s stock worth $68,652,000 after purchasing an additional 215,729 shares during the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Steelcase Stock Up 0.1 %

NYSE:SCS traded up $0.02 during mid-day trading on Wednesday, hitting $13.69. 33,085 shares of the company’s stock traded hands, compared to its average volume of 679,343. The company has a fifty day moving average of $13.04 and a 200 day moving average of $13.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.23 and a current ratio of 1.62. Steelcase Inc. has a twelve month low of $11.50 and a twelve month high of $14.74. The company has a market capitalization of $1.56 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.36 and a beta of 1.34.

Steelcase (NYSE:SCS) last released its quarterly earnings results on Wednesday, September 18th. The business services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Steelcase had a return on equity of 14.41% and a net margin of 4.02%. The company had revenue of $855.80 million during the quarter, compared to analysts’ expectations of $864.17 million. During the same period last year, the business posted $0.31 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Monday, September 30th. Steelcase’s payout ratio is 37.74%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Steelcase

In other news, VP Robert G. Krestakos sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $13.11, for a total value of $52,440.00. Following the completion of the transaction, the vice president now directly owns 119,481 shares in the company, valued at $1,566,395.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 12.96% of the company’s stock.

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.