California Public Employees Retirement System grew its position in Steelcase Inc. (NYSE:SCS) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 242,792 shares of the business services provider’s stock after purchasing an additional 11,392 shares during the period. California Public Employees Retirement System’s holdings in Steelcase were worth $3,739,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New York State Teachers Retirement System bought a new position in Steelcase in the 3rd quarter worth about $117,000. Public Employees Retirement System of Ohio grew its position in Steelcase by 9.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,833 shares of the business services provider’s stock worth $152,000 after purchasing an additional 947 shares during the last quarter. Amalgamated Bank grew its position in Steelcase by 3.4% in 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 last quarter. AXA bought a new position in Steelcase in the 2nd quarter worth about $169,000. Finally, Fox Run Management L.L.C. bought a new position in Steelcase in the 3rd quarter worth about $256,000. Hedge funds and other institutional investors own 62.15% of the company’s stock.

Steelcase Inc. (NYSE SCS) opened at $15.70 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.58 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1,780.00, a P/E ratio of 17.64 and a beta of 1.25. Steelcase Inc. has a 1-year low of $12.50 and a 1-year high of $18.15.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Tuesday, December 19th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $772.10 million during the quarter, compared to analysts’ expectations of $762.37 million. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. analysts anticipate that Steelcase Inc. will post 0.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be issued a $0.1275 dividend. This represents a $0.51 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Thursday, December 28th. Steelcase’s dividend payout ratio (DPR) is presently 57.30%.

Several research analysts have commented on SCS shares. Sidoti cut shares of Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research report on Wednesday, September 20th. TheStreet upgraded shares of Steelcase from a “c+” rating to a “b-” rating in a research report on Tuesday, October 3rd. Finally, Zacks Investment Research cut shares of Steelcase from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Steelcase currently has a consensus rating of “Hold” and a consensus price target of $16.00.

In other news, VP Sara E. Armbruster sold 3,000 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $14.80, for a total value of $44,400.00. Following the completion of the transaction, the vice president now directly owns 69,870 shares in the company, valued at $1,034,076. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter M. Wege II sold 13,300 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $15.14, for a total transaction of $201,362.00. Following the completion of the transaction, the director now owns 254,244 shares of the company’s stock, valued at $3,849,254.16. The disclosure for this sale can be found here. Company insiders own 18.87% of the company’s stock.

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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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Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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