Teacher Retirement System of Texas Purchases 405,614 Shares of Steelcase Inc. (NYSE:SCS)

Teacher Retirement System of Texas lifted its position in shares of Steelcase Inc. (NYSE:SCS) by 109.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 775,177 shares of the business services provider’s stock after purchasing an additional 405,614 shares during the quarter. Teacher Retirement System of Texas’ holdings in Steelcase were worth $9,163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Gallacher Capital Management LLC boosted its position in shares of Steelcase by 34.5% during the fourth quarter. Gallacher Capital Management LLC now owns 49,670 shares of the business services provider’s stock worth $587,000 after purchasing an additional 12,748 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Steelcase by 3.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 424,802 shares of the business services provider’s stock worth $5,021,000 after purchasing an additional 12,846 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Steelcase by 2.6% during the fourth quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider’s stock worth $63,513,000 after purchasing an additional 133,893 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Steelcase by 111.9% during the fourth quarter. AlphaQuest LLC now owns 64,098 shares of the business services provider’s stock worth $758,000 after purchasing an additional 33,851 shares in the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Steelcase during the fourth quarter worth $155,000. 92.42% of the stock is owned by institutional investors.

Insider Activity at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value of $58,700.00. Following the sale, the vice president now directly 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 legal filing with the SEC, which can be accessed through this hyperlink. 12.96% of the stock is currently owned by insiders.

Steelcase Trading Down 4.0 %

Shares of NYSE SCS opened at $10.55 on Friday. The company’s fifty day moving average is $11.65 and its 200-day moving average is $12.43. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 10.98, a P/E/G ratio of 1.25 and a beta of 1.33. Steelcase Inc. has a twelve month low of $10.51 and a twelve month 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.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.30 EPS for the quarter, beating the consensus estimate of $0.23 by $0.07. The business 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 firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 EPS. Equities research analysts predict that Steelcase Inc. will post 1 EPS for the current 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.