Steelcase Inc. (SCS) Holdings Increased by Teton Advisors Inc.

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Teton Advisors Inc. boosted its position in Steelcase Inc. (NYSE:SCS) by 59.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 45,980 shares of the business services provider’s stock after acquiring an additional 17,100 shares during the period. Teton Advisors Inc.’s holdings in Steelcase were worth $851,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Steelcase by 10.1% in the 1st quarter. Principal Financial Group Inc. now owns 56,516 shares of the business services provider’s stock worth $769,000 after acquiring an additional 5,192 shares during the period. Russell Investments Group Ltd. grew its stake in Steelcase by 39.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,600,204 shares of the business services provider’s stock worth $21,604,000 after acquiring an additional 449,466 shares during the period. SG Americas Securities LLC purchased a new stake in Steelcase in the 2nd quarter worth approximately $397,000. Deprince Race & Zollo Inc. grew its stake in Steelcase by 9.4% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 3,200,809 shares of the business services provider’s stock worth $59,215,000 after acquiring an additional 275,516 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Steelcase by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 28,021 shares of the business services provider’s stock worth $379,000 after acquiring an additional 3,839 shares during the period. 64.19% of the stock is owned by hedge funds and other institutional investors.

Shares of SCS opened at $17.32 on Wednesday. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 19.03 and a beta of 1.31. Steelcase Inc. has a fifty-two week low of $13.10 and a fifty-two week high of $19.35. The company has a current ratio of 1.34, a quick ratio of 0.94 and a debt-to-equity ratio of 0.35.

Steelcase (NYSE:SCS) last announced its quarterly earnings results on Friday, September 21st. The business services provider reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.12. The company had revenue of $875.80 million for the quarter, compared to analyst estimates of $873.70 million. Steelcase had a net margin of 2.89% and a return on equity of 13.97%. Steelcase’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the business earned $0.26 EPS. Sell-side analysts forecast that Steelcase Inc. will post 1.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were issued a $0.135 dividend. The ex-dividend date was Friday, September 28th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.12%. Steelcase’s dividend payout ratio (DPR) is presently 59.34%.

A number of equities analysts have weighed in on SCS shares. ValuEngine lowered shares of Steelcase from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Seaport Global Securities upgraded shares of Steelcase from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, October 12th. Zacks Investment Research upgraded shares of Steelcase from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Wednesday, September 26th. TheStreet upgraded shares of Steelcase from a “c+” rating to a “b” rating in a report on Friday, September 21st. Finally, Raymond James lifted their price target on shares of Steelcase from $16.50 to $20.00 and gave the company an “outperform” rating in a report on Monday, September 24th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $20.33.

In related news, CAO Lizbeth S. O’shaughnessy sold 20,000 shares of Steelcase stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $18.61, for a total transaction of $372,200.00. Following the transaction, the chief accounting officer now owns 218,091 shares in the company, valued at approximately $4,058,673.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Allan W. Smith, Jr. sold 14,000 shares of Steelcase stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $18.54, for a total transaction of $259,560.00. Following the transaction, the vice president now owns 31,490 shares in the company, valued at approximately $583,824.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,791 shares of company stock worth $1,056,215. 17.58% of the stock is owned by company insiders.

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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 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.

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Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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