Skandinaviska Enskilda Banken AB publ Sells 4,554 Shares of Steelcase Inc. (NYSE:SCS)

Skandinaviska Enskilda Banken AB publ trimmed its position in shares of Steelcase Inc. (NYSE:SCS) by 7.6% in the fourth quarter, Holdings Channel reports. The fund owned 55,605 shares of the business services provider’s stock after selling 4,554 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Steelcase were worth $651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diversified Trust Co boosted its stake in Steelcase by 2.9% during the 4th quarter. Diversified Trust Co now owns 31,801 shares of the business services provider’s stock valued at $376,000 after purchasing an additional 886 shares during the period. Rhumbline Advisers boosted its position in shares of Steelcase by 0.6% in the fourth quarter. Rhumbline Advisers now owns 155,013 shares of the business services provider’s stock valued at $1,832,000 after acquiring an additional 932 shares during the period. Franklin Resources Inc. grew its stake in shares of Steelcase by 2.9% in the third quarter. Franklin Resources Inc. now owns 99,574 shares of the business services provider’s stock worth $1,292,000 after acquiring an additional 2,791 shares during the last quarter. R Squared Ltd bought a new stake in shares of Steelcase in the fourth quarter valued at about $36,000. Finally, Handelsbanken Fonder AB grew its position in Steelcase by 33.3% during the fourth quarter. Handelsbanken Fonder AB now owns 26,418 shares of the business services provider’s stock worth $312,000 after buying an additional 6,600 shares in the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total value 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. The trade was a 4.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 12.96% of the company’s stock.

Steelcase Trading Up 0.2 %

Steelcase stock opened at $11.02 on Tuesday. The business has a 50 day moving average price of $11.68 and a two-hundred day moving average price of $12.51. The company has a quick ratio of 1.21, a current ratio of 1.57 and a debt-to-equity ratio of 0.48. Steelcase Inc. has a 12 month low of $10.78 and a 12 month high of $14.74. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33.

Steelcase (NYSE:SCS) last issued its earnings results on Wednesday, December 18th. The business services provider reported $0.30 EPS 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 analyst estimates of $796.58 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. Steelcase’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 earnings per share. As a group, equities analysts forecast that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Monday, December 30th were paid a $0.10 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.40 dividend on an annualized basis and a yield of 3.63%. Steelcase’s payout ratio is currently 41.67%.

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.