Cutler Group LP Has $29,000 Holdings in Steelcase Inc. (SCS)

Cutler Group LP raised its position in Steelcase Inc. (NYSE:SCS) by 157.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,006 shares of the business services provider’s stock after buying an additional 5,506 shares during the quarter. Cutler Group LP’s holdings in Steelcase were worth $29,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Matarin Capital Management LLC bought a new position in Steelcase in the 3rd quarter valued at $686,000. James Investment Research Inc. bought a new position in Steelcase in the 4th quarter valued at $1,057,000. Marshall Wace LLP bought a new position in Steelcase in the 3rd quarter valued at $1,846,000. United Services Automobile Association boosted its holdings in Steelcase by 7.9% in the 3rd quarter. United Services Automobile Association now owns 514,147 shares of the business services provider’s stock valued at $9,512,000 after purchasing an additional 37,570 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in Steelcase by 421.8% in the 4th quarter. Meeder Asset Management Inc. now owns 15,315 shares of the business services provider’s stock valued at $228,000 after purchasing an additional 12,380 shares during the period. 65.67% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Peter M. Wege II sold 13,741 shares of Steelcase stock in a transaction on Friday, January 4th. The shares were sold at an average price of $15.53, for a total transaction of $213,397.73. Following the completion of the sale, the director now directly owns 238,656 shares of the company’s stock, valued at approximately $3,706,327.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 17.58% of the company’s stock.

NYSE SCS opened at $16.94 on Wednesday. Steelcase Inc. has a 52-week low of $13.10 and a 52-week high of $19.35. The company has a quick ratio of 0.86, a current ratio of 1.25 and a debt-to-equity ratio of 0.34. The firm has a market cap of $1.97 billion, a PE ratio of 18.62 and a beta of 1.25.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, December 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. Steelcase had a net margin of 3.13% and a return on equity of 15.91%. The company had revenue of $901.00 million during the quarter, compared to the consensus estimate of $900.30 million. On average, equities analysts expect that Steelcase Inc. will post 1.12 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 14th. Stockholders of record on Friday, December 28th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Thursday, December 27th. Steelcase’s dividend payout ratio is currently 59.34%.

Separately, Zacks Investment Research downgraded shares of Steelcase from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 27th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $18.67.

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Steelcase Company Profile

Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as other products, including worktools.

Further Reading: Beta

Want to see what other hedge funds are holding SCS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steelcase Inc. (NYSE:SCS).

Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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