DekaBank Deutsche Girozentrale Has $167,000 Position in Steelcase Inc. $SCS

DekaBank Deutsche Girozentrale raised its position in Steelcase Inc. (NYSE:SCS) by 44.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,028 shares of the business services provider’s stock after acquiring an additional 4,908 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Steelcase were worth $167,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SCS. Pacer Advisors Inc. acquired a new stake in shares of Steelcase during the 1st quarter worth about $11,642,000. Victory Capital Management Inc. lifted its stake in shares of Steelcase by 208.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,413,845 shares of the business services provider’s stock worth $15,496,000 after buying an additional 955,431 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Steelcase by 49.4% during the 2nd quarter. Allianz Asset Management GmbH now owns 2,128,137 shares of the business services provider’s stock worth $22,196,000 after buying an additional 703,974 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of Steelcase by 7.3% during the 2nd quarter. Pzena Investment Management LLC now owns 5,754,832 shares of the business services provider’s stock worth $60,023,000 after buying an additional 389,912 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Steelcase by 72.7% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 917,430 shares of the business services provider’s stock worth $10,055,000 after buying an additional 386,290 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings cut shares of Steelcase from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, October 8th. Noble Financial lowered shares of Steelcase from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Zacks Research raised shares of Steelcase from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Wall Street Zen lowered shares of Steelcase from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Steelcase Price Performance

SCS stock opened at $16.63 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.66 and a debt-to-equity ratio of 0.44. Steelcase Inc. has a 12 month low of $9.31 and a 12 month high of $17.40. The firm has a market cap of $1.91 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.53 and a beta of 1.26. The company’s 50-day moving average price is $16.77 and its two-hundred day moving average price is $13.04.

Steelcase (NYSE:SCS) last released its earnings results on Friday, June 2nd. The business services provider reported $0.23 EPS for the quarter. Steelcase had a net margin of 2.92% and a return on equity of 13.00%. The firm had revenue of $724.80 million for the quarter. On average, analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Monday, October 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, October 6th. Steelcase’s dividend payout ratio (DPR) is currently 38.83%.

About Steelcase

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.