DekaBank Deutsche Girozentrale Has $153,000 Holdings in Steelcase Inc. (NYSE:SCS)

DekaBank Deutsche Girozentrale lifted its position in shares of Steelcase Inc. (NYSE:SCS) by 8.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,017 shares of the business services provider’s stock after purchasing an additional 897 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Steelcase were worth $153,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Jupiter Asset Management Ltd. boosted its stake in Steelcase by 370.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 337,839 shares of the business services provider’s stock valued at $4,419,000 after purchasing an additional 266,070 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Steelcase by 177.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 234,202 shares of the business services provider’s stock valued at $3,063,000 after buying an additional 149,776 shares during the last quarter. Caxton Associates LP lifted its stake in Steelcase by 273.3% during the 1st quarter. Caxton Associates LP now owns 74,266 shares of the business services provider’s stock valued at $971,000 after acquiring an additional 54,369 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Steelcase by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 10,153,754 shares of the business services provider’s stock worth $132,811,000 after acquiring an additional 387,861 shares during the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Steelcase in the 1st quarter worth $2,427,000. 92.42% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Donna K. Flynn sold 13,310 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $13.72, for a total value of $182,613.20. Following the sale, the vice president now directly owns 78,733 shares in the company, valued at approximately $1,080,216.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO David C. Sylvester sold 73,184 shares of Steelcase stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $13.84, for a total value of $1,012,866.56. Following the completion of the transaction, the chief financial officer now directly owns 551,592 shares in the company, valued at $7,634,033.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Donna K. Flynn sold 13,310 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $13.72, for a total value of $182,613.20. Following the sale, the vice president now owns 78,733 shares in the company, valued at $1,080,216.76. The disclosure for this sale can be found here. Insiders have sold 174,187 shares of company stock valued at $2,410,861 in the last 90 days. Insiders own 12.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Benchmark lifted their target price on shares of Steelcase from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, June 21st.

Steelcase Stock Down 2.9 %

Shares of NYSE:SCS opened at $12.92 on Friday. The company has a market capitalization of $1.47 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33. Steelcase Inc. has a 1 year low of $10.29 and a 1 year high of $14.74. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.15. The business has a fifty day moving average price of $13.52 and a two-hundred day moving average price of $13.03.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Wednesday, September 18th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Steelcase had a net margin of 2.89% and a return on equity of 13.66%. The business had revenue of $855.80 million during the quarter, compared to the consensus estimate of $864.17 million. During the same quarter last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Analysts forecast that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.10%. Steelcase’s payout ratio is presently 52.63%.

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.