Cwm LLC Makes New $75,000 Investment in Steelcase Inc. (NYSE:SCS)

Cwm LLC purchased a new position in shares of Steelcase Inc. (NYSE:SCSGet Rating) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,459 shares of the business services provider’s stock, valued at approximately $75,000.

A number of other institutional investors also recently bought and sold shares of SCS. Advisor Group Holdings Inc. lifted its holdings in Steelcase by 12.5% during the 1st quarter. Advisor Group Holdings Inc. now owns 36,070 shares of the business services provider’s stock worth $431,000 after buying an additional 3,999 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Steelcase by 32.8% during the 1st quarter. HighTower Advisors LLC now owns 14,724 shares of the business services provider’s stock worth $177,000 after buying an additional 3,635 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in Steelcase by 47.3% during the 1st quarter. Natixis Advisors L.P. now owns 29,323 shares of the business services provider’s stock worth $350,000 after buying an additional 9,422 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Steelcase by 51.8% during the 1st quarter. MetLife Investment Management LLC now owns 45,862 shares of the business services provider’s stock worth $548,000 after buying an additional 15,650 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Steelcase by 3.6% in the 1st quarter. BlackRock Inc. now owns 7,932,474 shares of the business services provider’s stock valued at $94,794,000 after purchasing an additional 277,505 shares during the last quarter. 74.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SCS shares. Benchmark downgraded Steelcase from a “buy” rating to a “hold” rating in a report on Tuesday, November 29th. StockNews.com started coverage on Steelcase in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Sidoti raised Steelcase from a “neutral” rating to a “buy” rating and set a $11.00 target price for the company in a report on Tuesday, October 4th.

Steelcase Stock Performance

Shares of SCS stock opened at $7.53 on Thursday. The stock has a market capitalization of $849.26 million, a PE ratio of 50.20 and a beta of 1.36. Steelcase Inc. has a 52-week low of $6.20 and a 52-week high of $12.93. The stock’s 50-day moving average price is $7.53 and its 200 day moving average price is $8.91. The company has a quick ratio of 0.79, a current ratio of 1.35 and a debt-to-equity ratio of 0.55.

Steelcase Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Tuesday, January 3rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend was Friday, December 30th. Steelcase’s dividend payout ratio (DPR) is presently 266.67%.

Steelcase Profile

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Steelcase Inc provides a portfolio of furniture and architectural products in the United States and internationally. It operates through Americas, EMEA, and Other 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, and mobile power and screens.

See Also

Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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