Jump Financial LLC Takes $1.06 Million Position in Steelcase Inc. (NYSE:SCS)

Jump Financial LLC purchased a new position in Steelcase Inc. (NYSE:SCS) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 70,237 shares of the business services provider’s stock, valued at approximately $1,061,000.

A number of other large investors also recently bought and sold shares of the business. First Trust Advisors LP grew its position in shares of Steelcase by 66.5% in the first quarter. First Trust Advisors LP now owns 101,404 shares of the business services provider’s stock valued at $1,475,000 after purchasing an additional 40,490 shares during the period. Amundi Pioneer Asset Management Inc. boosted its holdings in Steelcase by 3.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 112,156 shares of the business services provider’s stock worth $1,632,000 after buying an additional 3,302 shares during the last quarter. BlackRock Inc. boosted its holdings in Steelcase by 5.8% in the 1st quarter. BlackRock Inc. now owns 8,124,462 shares of the business services provider’s stock worth $116,910,000 after buying an additional 446,113 shares during the last quarter. Principal Financial Group Inc. increased its stake in Steelcase by 8.3% during the 1st quarter. Principal Financial Group Inc. now owns 63,538 shares of the business services provider’s stock worth $914,000 after buying an additional 4,849 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of Steelcase by 10.2% during the first quarter. UBS Group AG now owns 132,684 shares of the business services provider’s stock valued at $1,909,000 after acquiring an additional 12,306 shares during the last quarter. Institutional investors own 67.93% of the company’s stock.

Shares of SCS opened at $12.24 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.53 and a current ratio of 1.99. Steelcase Inc. has a one year low of $10.36 and a one year high of $16.84. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 39.48 and a beta of 1.42. The stock has a 50 day moving average price of $13.40 and a 200 day moving average price of $14.01.

Steelcase (NYSE:SCS) last announced its earnings results on Tuesday, September 21st. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The business had revenue of $724.80 million for the quarter, compared to analyst estimates of $761.33 million. Steelcase had a return on equity of 5.56% and a net margin of 1.35%. The company’s revenue for the quarter was down 11.5% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Monday, October 4th will be paid a dividend of $0.145 per share. The ex-dividend date is Friday, October 1st. This represents a $0.58 annualized dividend and a yield of 4.74%. Steelcase’s dividend payout ratio is presently 111.54%.

Steelcase 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 firm’s furniture portfolio includes panel, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including work tools and screens.

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Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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