Semanteon Capital Management LP Invests $412,000 in Steelcase Inc. (NYSE:SCS)

Semanteon Capital Management LP acquired a new position in Steelcase Inc. (NYSE:SCS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,822 shares of the business services provider’s stock, valued at approximately $412,000.

Other large investors have also recently made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Steelcase in the 4th quarter worth approximately $36,000. Olympiad Research LP acquired a new position in shares of Steelcase in the 4th quarter worth approximately $134,000. Aigen Investment Management LP acquired a new position in shares of Steelcase in the 4th quarter worth approximately $155,000. Centiva Capital LP acquired a new position in shares of Steelcase in the 3rd quarter worth approximately $181,000. Finally, Ieq Capital LLC acquired a new position in shares of Steelcase in the 4th quarter worth approximately $203,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Robert G. Krestakos sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total transaction of $58,700.00. Following the sale, the vice president now directly owns 114,481 shares of the company’s stock, valued at $1,344,006.94. This represents a 4.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.96% of the stock is owned by insiders.

Steelcase Price Performance

Shares of SCS opened at $10.55 on Friday. Steelcase Inc. has a fifty-two week low of $10.51 and a fifty-two week high of $14.74. The firm’s 50 day moving average price is $11.65 and its 200 day moving average price is $12.44. The company has a market cap of $1.20 billion, a P/E ratio of 10.98, a PEG ratio of 1.25 and a beta of 1.33. 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 (NYSE:SCS) last announced its earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The firm had revenue of $794.90 million for the quarter, compared to the consensus estimate of $796.58 million. During the same period in the prior year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, research analysts forecast that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

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.