Brandywine Global Investment Management LLC Has $3.08 Million Stock Holdings in Steelcase Inc. $SCS

Brandywine Global Investment Management LLC trimmed its holdings in Steelcase Inc. (NYSE:SCS) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 295,190 shares of the business services provider’s stock after selling 11,700 shares during the period. Brandywine Global Investment Management LLC owned about 0.26% of Steelcase worth $3,079,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SCS. Allianz Asset Management GmbH raised its holdings in shares of Steelcase by 49.4% in 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 acquiring an additional 703,974 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Steelcase by 260.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 872,488 shares of the business services provider’s stock worth $9,100,000 after purchasing an additional 630,416 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Steelcase by 7.3% in the second quarter. Pzena Investment Management LLC now owns 5,754,832 shares of the business services provider’s stock worth $60,023,000 after purchasing an additional 389,912 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Steelcase by 72.7% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 917,430 shares of the business services provider’s stock worth $10,055,000 after purchasing an additional 386,290 shares during the last quarter. Finally, Boston Partners bought a new position in shares of Steelcase in the second quarter valued at approximately $3,606,000. 92.42% of the stock is owned by institutional investors.

Steelcase Stock Performance

Steelcase stock opened at $16.00 on Tuesday. Steelcase Inc. has a 1-year low of $9.31 and a 1-year high of $17.40. The company has a current ratio of 1.66, a quick ratio of 1.18 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $1.84 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.46 and a beta of 1.28. The firm’s 50 day simple moving average is $16.43 and its 200 day simple moving average is $13.90.

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

Steelcase Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Monday, October 6th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, October 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.5%. Steelcase’s dividend payout ratio is presently 38.83%.

Analyst Upgrades and Downgrades

SCS has been the topic of a number of analyst reports. Zacks Research raised shares of Steelcase from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Wall Street Zen cut Steelcase from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Noble Financial cut shares of Steelcase from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Steelcase in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

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.