California State Teachers Retirement System raised its stake in Steelcase Inc. (NYSE:SCS) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,512 shares of the business services provider’s stock after purchasing an additional 1,619 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Steelcase worth $2,493,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SCS. Tower Research Capital LLC TRC acquired a new stake in shares of Steelcase in the third quarter valued at approximately $74,000. Advisor Group Inc. lifted its position in shares of Steelcase by 25.3% in the second quarter. Advisor Group Inc. now owns 6,313 shares of the business services provider’s stock valued at $108,000 after buying an additional 1,276 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Steelcase in the third quarter valued at approximately $140,000. Nisa Investment Advisors LLC lifted its position in shares of Steelcase by 70.0% in the third quarter. Nisa Investment Advisors LLC now owns 8,500 shares of the business services provider’s stock valued at $156,000 after buying an additional 3,500 shares during the last quarter. Finally, Sciencast Management LP acquired a new stake in shares of Steelcase in the third quarter valued at approximately $186,000. 67.50% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on SCS shares. Zacks Investment Research cut Steelcase from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Raymond James cut Steelcase from a “strong-buy” rating to a “market perform” rating in a research report on Monday, October 7th.

SCS opened at $18.88 on Friday. Steelcase Inc. has a 12-month low of $13.96 and a 12-month high of $19.65. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 15.73 and a beta of 1.37. The business has a 50 day moving average of $18.12 and a 200-day moving average of $17.17. The company has a quick ratio of 1.20, a current ratio of 1.57 and a debt-to-equity ratio of 0.76.

Steelcase (NYSE:SCS) last released its quarterly earnings data on Friday, September 20th. The business services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.07. Steelcase had a return on equity of 18.13% and a net margin of 3.80%. The company had revenue of $998.00 million during the quarter, compared to analysts’ expectations of $980.87 million. During the same period last year, the firm posted $0.36 earnings per share. The business’s revenue was up 14.0% on a year-over-year basis. As a group, analysts expect that Steelcase Inc. will post 1.36 earnings per share for the current year.

In related news, CFO David C. Sylvester sold 7,500 shares of Steelcase stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $18.23, for a total transaction of $136,725.00. Following the completion of the sale, the chief financial officer now directly owns 405,316 shares of the company’s stock, valued at approximately $7,388,910.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Peter M. Wege II sold 2,600 shares of Steelcase stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $18.64, for a total value of $48,464.00. Following the sale, the director now directly owns 235,644 shares of the company’s stock, valued at $4,392,404.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,300 shares of company stock valued at $754,203. 17.58% of the stock is currently owned by insiders.

Steelcase Company 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, fence and beam-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as complementary products, including worktools.

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Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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