Atlantic Investment Management Inc. decreased its position in Steelcase Inc. (NYSE:SCS) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 482,739 shares of the business services provider’s stock after selling 4,904 shares during the quarter. Steelcase comprises approximately 0.9% of Atlantic Investment Management Inc.’s holdings, making the stock its 7th largest position. Atlantic Investment Management Inc. owned approximately 0.42% of Steelcase worth $7,434,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Steelcase by 8.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,630,186 shares of the business services provider’s stock valued at $55,905,000 after buying an additional 278,125 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Steelcase by 2,481.3% during the second quarter. Alliancebernstein L.P. now owns 3,183,486 shares of the business services provider’s stock valued at $44,569,000 after purchasing an additional 3,060,155 shares during the last quarter. Cooke & Bieler LP lifted its holdings in shares of Steelcase by 11.4% during the second quarter. Cooke & Bieler LP now owns 2,531,484 shares of the business services provider’s stock valued at $35,441,000 after purchasing an additional 260,039 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Steelcase by 9.1% during the second quarter. Thompson Siegel & Walmsley LLC now owns 2,340,478 shares of the business services provider’s stock valued at $32,766,000 after purchasing an additional 195,864 shares during the last quarter. Finally, Royce & Associates LP lifted its holdings in shares of Steelcase by 11.2% during the second quarter. Royce & Associates LP now owns 2,085,022 shares of the business services provider’s stock valued at $29,190,000 after purchasing an additional 209,300 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.

SCS has been the subject of several analyst reports. Sidoti raised Steelcase from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a report on Friday, September 1st. TheStreet raised Steelcase from a “c+” rating to a “b-” rating in a report on Tuesday, October 3rd. Zacks Investment Research raised Steelcase from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. Finally, ValuEngine downgraded Steelcase from a “buy” rating to a “hold” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $16.00.

Shares of Steelcase Inc. (NYSE:SCS) traded up $0.05 during trading on Friday, reaching $14.50. The company had a trading volume of 350,900 shares, compared to its average volume of 714,942. The stock has a market cap of $1,676.69, a P/E ratio of 14.17 and a beta of 1.25. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.28 and a current ratio of 1.63. Steelcase Inc. has a 1 year low of $12.50 and a 1 year high of $18.15.

Steelcase (NYSE:SCS) last announced its quarterly earnings data on Monday, September 18th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.08. The firm had revenue of $775.60 million during the quarter, compared to the consensus estimate of $759.83 million. Steelcase had a return on equity of 15.72% and a net margin of 3.98%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. research analysts forecast that Steelcase Inc. will post 0.93 earnings per share for the current year.

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About Steelcase

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.

Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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