Creative Planning Buys 1,075 Shares of Steelcase Inc. (NYSE:SCS)

Creative Planning grew its stake in shares of Steelcase Inc. (NYSE:SCSFree Report) by 8.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 13,470 shares of the business services provider’s stock after acquiring an additional 1,075 shares during the quarter. Creative Planning’s holdings in Steelcase were worth $182,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position in shares of Steelcase by 34,941.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,615 shares of the business services provider’s stock worth $165,000 after buying an additional 12,579 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Steelcase by 12.7% during the 1st quarter. BNP Paribas Financial Markets now owns 59,507 shares of the business services provider’s stock worth $778,000 after buying an additional 6,711 shares during the last quarter. Sei Investments Co. lifted its position in shares of Steelcase by 11.0% during the 1st quarter. Sei Investments Co. now owns 240,004 shares of the business services provider’s stock worth $3,139,000 after buying an additional 23,867 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Steelcase by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 16,656 shares of the business services provider’s stock worth $218,000 after buying an additional 1,311 shares during the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Steelcase during the 1st quarter worth $2,427,000. 92.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Steelcase news, VP Robert G. Krestakos sold 4,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 in the company, valued at approximately $1,566,395.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.96% of the stock is currently owned by insiders.

Steelcase Price Performance

Shares of SCS opened at $13.65 on Tuesday. Steelcase Inc. has a 12-month low of $11.12 and a 12-month high of $14.74. The business has a 50-day simple moving average of $13.04 and a two-hundred day simple moving average of $13.11. The company has a quick ratio of 1.23, a current ratio of 1.62 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.56 billion, a PE ratio of 12.88, a PEG ratio of 1.31 and a beta of 1.34.

Steelcase (NYSE:SCSGet Free Report) last issued its quarterly earnings results on Wednesday, September 18th. The business services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The company had revenue of $855.80 million during the quarter, compared to analysts’ expectations of $864.17 million. Steelcase had a return on equity of 14.41% and a net margin of 4.02%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.93%. Steelcase’s dividend payout ratio is currently 37.74%.

Analyst Ratings Changes

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

Check Out Our Latest Report on Steelcase

Steelcase Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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