Steelcase Inc. (NYSE:SCS) Stock Position Raised by Cwm LLC

Cwm LLC increased its holdings in shares of Steelcase Inc. (NYSE:SCS) by 24.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,055 shares of the business services provider’s stock after acquiring an additional 5,324 shares during the quarter. Cwm LLC’s holdings in Steelcase were worth $365,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SCS. Innealta Capital LLC acquired a new stake in shares of Steelcase during the 2nd quarter worth approximately $93,000. SpiderRock Advisors LLC acquired a new position in shares of Steelcase during the first quarter valued at $135,000. DekaBank Deutsche Girozentrale bought a new position in shares of Steelcase during the first quarter worth about $141,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Steelcase by 34,941.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,615 shares of the business services provider’s stock worth $165,000 after acquiring an additional 12,579 shares during the period. Finally, Virtu Financial LLC bought a new stake in Steelcase in the 4th quarter valued at about $190,000. Institutional investors own 92.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Noble Financial initiated coverage on shares of Steelcase in a research report on Wednesday, October 9th. They issued an “outperform” rating and a $16.00 target price for the company.

Insider Buying and Selling

In other Steelcase news, CAO Nicole Cherie Mcgrath sold 15,749 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $13.94, for a total transaction of $219,541.06. Following the completion of the transaction, the chief accounting officer now directly owns 18,453 shares of the company’s stock, valued at approximately $257,234.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Robert G. Krestakos sold 4,000 shares of Steelcase stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $13.11, for a total value of $52,440.00. Following the transaction, the vice president now owns 119,481 shares of the company’s stock, valued at $1,566,395.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Nicole Cherie Mcgrath sold 15,749 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $13.94, for a total transaction of $219,541.06. Following the sale, the chief accounting officer now directly owns 18,453 shares of the company’s stock, valued at approximately $257,234.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,933 shares of company stock valued at $1,284,848 over the last quarter. Corporate insiders own 12.96% of the company’s stock.

Steelcase Stock Down 1.5 %

Shares of Steelcase stock opened at $13.01 on Monday. Steelcase Inc. has a 1-year low of $10.29 and a 1-year high of $14.74. The company has a market capitalization of $1.48 billion, a P/E ratio of 17.12, a PEG ratio of 1.29 and a beta of 1.32. The business’s fifty day moving average price is $13.30 and its two-hundred day moving average price is $13.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.62 and a quick ratio of 1.23.

Steelcase (NYSE:SCS) last issued its quarterly earnings data on Wednesday, September 18th. The business services provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $855.80 million for the quarter, compared to analysts’ expectations of $864.17 million. Steelcase had a net margin of 4.02% and a return on equity of 14.41%. The company’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. As a group, research analysts forecast that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.07%. Steelcase’s dividend payout ratio is presently 52.63%.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, mobile power, and screens.