California State Teachers Retirement System Has $2.13 Million Holdings in Steelcase Inc. (SCS)
California State Teachers Retirement System cut its stake in shares of Steelcase Inc. (NYSE:SCS) by 10.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 151,769 shares of the business services provider’s stock after selling 17,778 shares during the quarter. California State Teachers Retirement System owned about 0.13% of Steelcase worth $2,125,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of SCS. New York State Teachers Retirement System grew its stake in shares of Steelcase by 4.2% during the 1st quarter. New York State Teachers Retirement System now owns 7,500 shares of the business services provider’s stock worth $126,000 after purchasing an additional 300 shares during the period. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Steelcase during the 2nd quarter worth $147,000. Amalgamated Bank grew its stake in shares of Steelcase by 3.4% during the 2nd quarter. Amalgamated Bank now owns 10,913 shares of the business services provider’s stock worth $153,000 after purchasing an additional 358 shares during the period. AXA acquired a new position in shares of Steelcase during the 2nd quarter worth $169,000. Finally, North Star Investment Management Corp. grew its stake in shares of Steelcase by 99.4% during the 2nd quarter. North Star Investment Management Corp. now owns 13,290 shares of the business services provider’s stock worth $186,000 after purchasing an additional 6,626 shares during the period. 60.00% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on SCS shares. TheStreet cut shares of Steelcase from a “b-” rating to a “c+” rating in a research note on Thursday, July 20th. BidaskClub cut shares of Steelcase from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of Steelcase from a “sell” rating to a “hold” rating in a research note on Thursday, August 24th. ValuEngine cut shares of Steelcase from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Sidoti raised shares of Steelcase from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Steelcase has an average rating of “Hold” and an average price target of $16.00.
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Shares of Steelcase Inc. (NYSE:SCS) opened at $13.90 on Tuesday. The company has a market cap of $1,589.67, a PE ratio of 13.43 and a beta of 1.22. Steelcase Inc. has a 12 month low of $12.50 and a 12 month high of $18.15. The company has a quick ratio of 1.28, a current ratio of 1.63 and a debt-to-equity ratio of 0.37.
Steelcase (NYSE:SCS) last issued its quarterly earnings data on Monday, September 18th. The business services provider reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.08. The firm had revenue of $775.60 million for the quarter, compared to analysts’ expectations of $759.83 million. Steelcase had a net margin of 3.98% and a return on equity of 15.72%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS. equities analysts anticipate that Steelcase Inc. will post 0.93 earnings per share for the current year.
Steelcase Company Profile
Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.
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