Steelcase Inc. $SCS Shares Bought by American Century Companies Inc.

American Century Companies Inc. grew its holdings in shares of Steelcase Inc. (NYSE:SCS) by 5.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,398,288 shares of the business services provider’s stock after buying an additional 162,302 shares during the period. American Century Companies Inc. owned 2.96% of Steelcase worth $35,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Legal & General Group Plc raised its position in shares of Steelcase by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 96,212 shares of the business services provider’s stock worth $1,003,000 after acquiring an additional 1,581 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Steelcase by 7.6% during the second quarter. Harbor Capital Advisors Inc. now owns 22,707 shares of the business services provider’s stock worth $237,000 after purchasing an additional 1,601 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Steelcase by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,999 shares of the business services provider’s stock worth $603,000 after buying an additional 2,403 shares during the last quarter. MTM Investment Management LLC acquired a new position in shares of Steelcase in the 2nd quarter valued at $26,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Steelcase by 3,634.2% in the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the business services provider’s stock valued at $32,000 after buying an additional 2,871 shares in the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Steelcase Price Performance

Steelcase stock opened at $16.29 on Friday. 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 business has a 50 day simple moving average of $16.37 and a 200-day simple moving average of $14.03. Steelcase Inc. has a 12 month low of $9.31 and a 12 month high of $17.40. The stock has a market capitalization of $1.87 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.46 and a beta of 1.28.

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

Steelcase Announces Dividend

The company also recently declared 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, October 6th. Steelcase’s payout ratio is 38.83%.

Analysts Set New Price Targets

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

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.