SG Americas Securities LLC Has $486,000 Stock Holdings in Steelcase Inc. (NYSE:SCS)

SG Americas Securities LLC increased its position in shares of Steelcase Inc. (NYSE:SCSGet Rating) by 19.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,577 shares of the business services provider’s stock after acquiring an additional 12,025 shares during the quarter. SG Americas Securities LLC owned about 0.07% of Steelcase worth $486,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Steelcase during the second quarter valued at $126,000. Douglas Lane & Associates LLC raised its position in shares of Steelcase by 6.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 3,735,696 shares of the business services provider’s stock valued at $24,357,000 after acquiring an additional 210,316 shares during the period. Transatlantique Private Wealth LLC bought a new position in Steelcase during the 2nd quarter worth approximately $436,000. Clifford Capital Partners LLC bought a new stake in Steelcase in the second quarter valued at approximately $312,000. Finally, Gitterman Wealth Management LLC raised its holdings in Steelcase by 12.7% in the third quarter. Gitterman Wealth Management LLC now owns 19,819 shares of the business services provider’s stock worth $131,000 after purchasing an additional 2,228 shares during the period. Institutional investors and hedge funds own 74.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SCS. assumed coverage on shares of Steelcase in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Sidoti raised Steelcase from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Tuesday, October 4th. Finally, Benchmark lowered Steelcase from a “buy” rating to a “hold” rating in a research report on Tuesday, November 29th.

Steelcase Price Performance

NYSE SCS opened at $7.31 on Wednesday. The business has a 50 day simple moving average of $7.46 and a 200 day simple moving average of $8.80. Steelcase Inc. has a 52-week low of $6.20 and a 52-week high of $12.75. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.79 and a current ratio of 1.35. The stock has a market cap of $824.45 million, a price-to-earnings ratio of 48.73 and a beta of 1.36.

Steelcase (NYSE:SCSGet Rating) last posted its earnings results on Monday, December 19th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Steelcase had a return on equity of 4.85% and a net margin of 0.55%. The business had revenue of $826.90 million during the quarter.

Steelcase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Tuesday, January 3rd were paid a dividend of $0.10 per share. The ex-dividend date was Friday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 5.47%. Steelcase’s dividend payout ratio is currently 266.67%.

About Steelcase

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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.

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Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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