Boston Partners Invests $3.61 Million in Steelcase Inc. $SCS

Boston Partners acquired a new stake in shares of Steelcase Inc. (NYSE:SCS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 345,754 shares of the business services provider’s stock, valued at approximately $3,606,000. Boston Partners owned 0.30% of Steelcase as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SCS. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Steelcase in the 1st quarter valued at $1,060,000. Avantax Advisory Services Inc. grew its position in shares of Steelcase by 54.6% in the first quarter. Avantax Advisory Services Inc. now owns 102,699 shares of the business services provider’s stock valued at $1,126,000 after purchasing an additional 36,273 shares during the period. Mackenzie Financial Corp increased its stake in Steelcase by 85.7% in the first quarter. Mackenzie Financial Corp now owns 186,487 shares of the business services provider’s stock valued at $2,044,000 after purchasing an additional 86,055 shares during the last quarter. Vestcor Inc lifted its position in Steelcase by 19.2% during the first quarter. Vestcor Inc now owns 83,847 shares of the business services provider’s stock worth $919,000 after buying an additional 13,500 shares during the period. Finally, US Bancorp DE lifted its position in Steelcase by 4,509.8% during the first quarter. US Bancorp DE now owns 4,702 shares of the business services provider’s stock worth $52,000 after buying an additional 4,600 shares during the period. 92.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Noble Financial cut Steelcase from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steelcase in a research report on Friday, October 31st. Zacks Research downgraded shares of Steelcase from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Wall Street Zen lowered shares of Steelcase from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Steelcase Trading Up 0.6%

Shares of SCS opened at $16.29 on Friday. Steelcase Inc. has a 12 month low of $9.31 and a 12 month high of $17.40. The stock’s 50-day moving average is $16.37 and its two-hundred day moving average is $14.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.18. The stock has a market cap of $1.87 billion, a PE ratio of 15.82, a P/E/G ratio of 1.46 and a beta of 1.28.

Steelcase (NYSE:SCS) last posted its earnings results on Friday, June 2nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter. The business 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%. Equities analysts forecast that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Monday, October 6th were paid a dividend of $0.10 per share. The ex-dividend date 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 (DPR) is currently 38.83%.

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.