Hillsdale Investment Management Inc. Buys 1,500 Shares of Steelcase Inc. (NYSE:SCS)

Hillsdale Investment Management Inc. raised its stake in shares of Steelcase Inc. (NYSE:SCS) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 284,800 shares of the business services provider’s stock after purchasing an additional 1,500 shares during the period. Hillsdale Investment Management Inc. owned 0.25% of Steelcase worth $3,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC boosted its stake in Steelcase by 399.0% during the third quarter. Quest Partners LLC now owns 30,247 shares of the business services provider’s stock valued at $408,000 after buying an additional 24,186 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Steelcase during the 3rd quarter worth approximately $2,273,000. Intech Investment Management LLC bought a new position in shares of Steelcase during the 3rd quarter valued at approximately $347,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Steelcase in the third quarter valued at $602,000. Finally, FMR LLC increased its position in Steelcase by 3,862.6% in the third quarter. FMR LLC now owns 101,523 shares of the business services provider’s stock worth $1,370,000 after purchasing an additional 98,961 shares during the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Steelcase Price Performance

Steelcase stock opened at $10.55 on Friday. Steelcase Inc. has a 52-week low of $10.51 and a 52-week high of $14.74. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. The firm’s fifty day moving average is $11.65 and its 200 day moving average is $12.43. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.25 and a beta of 1.33.

Steelcase (NYSE:SCS) last announced its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The firm had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $796.58 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. Sell-side analysts forecast that Steelcase Inc. will post 1 EPS for the current fiscal year.

Insider Buying and Selling at Steelcase

In other news, VP Robert G. Krestakos sold 5,000 shares of the business’s 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 owns 114,481 shares of the company’s stock, valued at approximately $1,344,006.94. The trade was a 4.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.96% of the company’s stock.

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.