Gotham Asset Management LLC Sells 54,195 Shares of Steelcase Inc. (SCS)

Gotham Asset Management LLC lessened its holdings in Steelcase Inc. (NYSE:SCS) by 14.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 318,151 shares of the business services provider’s stock after selling 54,195 shares during the period. Gotham Asset Management LLC owned approximately 0.27% of Steelcase worth $4,454,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Thompson Siegel & Walmsley LLC boosted its position in Steelcase by 9.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 2,340,478 shares of the business services provider’s stock valued at $32,766,000 after buying an additional 195,864 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Steelcase by 15.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 755,525 shares of the business services provider’s stock valued at $12,656,000 after buying an additional 99,692 shares during the period. Vanguard Group Inc. boosted its position in Steelcase by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 7,590,595 shares of the business services provider’s stock valued at $127,143,000 after buying an additional 659,548 shares during the period. AQR Capital Management LLC boosted its position in Steelcase by 11.2% in the 1st quarter. AQR Capital Management LLC now owns 414,769 shares of the business services provider’s stock valued at $6,947,000 after buying an additional 41,925 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in Steelcase by 5.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 181,479 shares of the business services provider’s stock valued at $3,040,000 after buying an additional 9,087 shares during the period. 62.10% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Gotham Asset Management LLC Sells 54,195 Shares of Steelcase Inc. (SCS)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://ledgergazette.com/2017/10/12/gotham-asset-management-llc-sells-54195-shares-of-steelcase-inc-scs.html.

Several research firms have recently issued reports on SCS. UBS AG cut shares of Steelcase from a “strong-buy” rating to an “outperform” rating in a research report on Friday, June 23rd. Sidoti cut shares of Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research report on Wednesday, September 20th. TheStreet cut shares of Steelcase from a “b-” rating to a “c+” rating in a research report on Thursday, July 20th. BidaskClub cut shares of Steelcase from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $16.00 price objective (down from $19.00) on shares of Steelcase in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Steelcase presently has a consensus rating of “Hold” and an average price target of $16.00.

Shares of Steelcase Inc. (NYSE:SCS) traded up 0.65% during midday trading on Thursday, reaching $15.45. 24,458 shares of the company traded hands. The firm has a market capitalization of $1.79 billion, a P/E ratio of 15.19 and a beta of 1.21. The company has a 50 day moving average of $14.26 and a 200 day moving average of $15.17. Steelcase Inc. has a 12 month low of $12.50 and a 12 month high of $18.15.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Monday, September 18th. The business services provider reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.08. Steelcase had a net margin of 3.98% and a return on equity of 15.72%. The firm had revenue of $775.60 million for the quarter, compared to the consensus estimate of $759.83 million. During the same period in the prior year, the firm posted $0.32 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Steelcase Inc. will post $0.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Thursday, September 28th will be paid a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $0.51 dividend on an annualized basis and a yield of 3.32%. Steelcase’s dividend payout ratio (DPR) is 50.50%.

In other Steelcase news, Director Peter M. Wege II sold 14,400 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $13.81, for a total transaction of $198,864.00. Following the transaction, the director now directly owns 270,180 shares in the company, valued at approximate

Other hedge funds have also modified their holdings of the company. Thompson Siegel & Walmsley LLC boosted its position in Steelcase by 9.1% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 2,340,478 shares of the business services provider’s stock valued at $32,766,000 after buying an additional 195,864 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Steelcase by 15.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 755,525 shares of the business services provider’s stock valued at $12,656,000 after buying an additional 99,692 shares during the period. Vanguard Group Inc. boosted its position in Steelcase by 9.5% in the 1st quarter. Vanguard Group Inc. now owns 7,590,595 shares of the business services provider’s stock valued at $127,143,000 after buying an additional 659,548 shares during the period. AQR Capital Management LLC boosted its position in Steelcase by 11.2% in the 1st quarter. AQR Capital Management LLC now owns 414,769 shares of the business services provider’s stock valued at $6,947,000 after buying an additional 41,925 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in Steelcase by 5.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 181,479 shares of the business services provider’s stock valued at $3,040,000 after buying an additional 9,087 shares during the period. 62.10% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Gotham Asset Management LLC Sells 54,195 Shares of Steelcase Inc. (SCS)” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this piece can be read at https://ledgergazette.com/2017/10/12/gotham-asset-management-llc-sells-54195-shares-of-steelcase-inc-scs.html.

Several research firms have recently issued reports on SCS. UBS AG cut shares of Steelcase from a “strong-buy” rating to an “outperform” rating in a research report on Friday, June 23rd. Sidoti cut shares of Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research report on Wednesday, September 20th. TheStreet cut shares of Steelcase from a “b-” rating to a “c+” rating in a research report on Thursday, July 20th. BidaskClub cut shares of Steelcase from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $16.00 price objective (down from $19.00) on shares of Steelcase in a research report on Friday, June 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Steelcase presently has a consensus rating of “Hold” and an average price target of $16.00.

Shares of Steelcase Inc. (NYSE:SCS) traded up 0.65% during midday trading on Thursday, reaching $15.45. 24,458 shares of the company traded hands. The firm has a market capitalization of $1.79 billion, a P/E ratio of 15.19 and a beta of 1.21. The company has a 50 day moving average of $14.26 and a 200 day moving average of $15.17. Steelcase Inc. has a 12 month low of $12.50 and a 12 month high of $18.15.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Monday, September 18th. The business services provider reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.08. Steelcase had a net margin of 3.98% and a return on equity of 15.72%. The firm had revenue of $775.60 million for the quarter, compared to the consensus estimate of $759.83 million. During the same period in the prior year, the firm posted $0.32 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Steelcase Inc. will post $0.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Thursday, September 28th will be paid a dividend of $0.1275 per share. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $0.51 dividend on an annualized basis and a yield of 3.32%. Steelcase’s dividend payout ratio (DPR) is 50.50%.

In other Steelcase news, Director Peter M. Wege II sold 14,400 shares of the stock in a transaction on Friday, July 14th. The shares were sold at an average price of $13.81, for a total transaction of $198,864.00. Following the transaction, the director now directly owns 270,180 shares in the company, valued at approximately $3,731,185.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 18.87% of the company’s stock.

Steelcase Company Profile

Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.

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Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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