American Century Companies Inc. Acquires 275,369 Shares of Steelcase Inc. (NYSE:SCS)

American Century Companies Inc. lifted its stake in Steelcase Inc. (NYSE:SCS) by 10.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,024,828 shares of the business services provider’s stock after purchasing an additional 275,369 shares during the period. American Century Companies Inc. owned about 2.66% of Steelcase worth $35,753,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Steelcase in the third quarter valued at approximately $6,167,000. BNP Paribas Financial Markets raised its position in Steelcase by 322.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 572,269 shares of the business services provider’s stock valued at $7,720,000 after purchasing an additional 436,754 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Steelcase by 109.8% in the 4th quarter. Teacher Retirement System of Texas now owns 775,177 shares of the business services provider’s stock worth $9,163,000 after buying an additional 405,614 shares during the period. Fifth Third Bancorp grew its position in shares of Steelcase by 7.4% during the 4th quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider’s stock worth $42,305,000 after buying an additional 245,981 shares in the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of Steelcase by 2.6% during the fourth quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider’s stock valued at $63,513,000 after buying an additional 133,893 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Activity

In related news, VP Robert G. Krestakos sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the sale, the vice president now 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.96% of the company’s stock.

Steelcase Stock Performance

SCS stock opened at $11.12 on Friday. Steelcase Inc. has a 1-year low of $10.30 and a 1-year high of $14.74. The business has a 50-day moving average price of $11.60 and a 200 day moving average price of $12.35. The company has a market capitalization of $1.26 billion, a P/E ratio of 11.58, a PEG ratio of 1.25 and a beta of 1.33. 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 (NYSE:SCS) last posted its quarterly earnings results on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business had revenue of $788.00 million during the quarter, compared to analyst estimates of $790.90 million. During the same quarter in the previous year, the business posted $0.23 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be issued a $0.10 dividend. The ex-dividend date is Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.60%. Steelcase’s dividend payout ratio is presently 41.67%.

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.