Steelcase Inc. (SCS) Receives Consensus Rating of “Hold” from Brokerages
Shares of Steelcase Inc. (NYSE:SCS) have received a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $16.00.
Separately, Zacks Investment Research lowered shares of Steelcase from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th.
Steelcase (NYSE:SCS) traded down $0.03 during trading hours on Friday, reaching $14.32. 813,602 shares of the company traded hands, compared to its average volume of 716,403. Steelcase has a 1-year low of $12.50 and a 1-year high of $18.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.58 and a quick ratio of 1.23. The company has a market capitalization of $1,631.70, a price-to-earnings ratio of 16.09 and a beta of 1.20.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 29th were paid a dividend of $0.1275 per share. This represents a $0.51 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Thursday, December 28th. Steelcase’s payout ratio is currently 57.30%.
In other Steelcase news, VP Sara E. Armbruster sold 3,000 shares of Steelcase stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $14.80, for a total value of $44,400.00. Following the completion of the transaction, the vice president now directly owns 69,870 shares of the company’s stock, valued at $1,034,076. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter M. Wege II sold 13,300 shares of Steelcase stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $15.14, for a total transaction of $201,362.00. Following the completion of the transaction, the director now directly owns 254,244 shares of the company’s stock, valued at $3,849,254.16. The disclosure for this sale can be found here. Insiders own 18.87% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Verity Asset Management Inc. purchased a new position in Steelcase in the fourth quarter worth about $183,000. Cooke & Bieler LP raised its holdings in Steelcase by 13.6% in the fourth quarter. Cooke & Bieler LP now owns 4,255,419 shares of the business services provider’s stock worth $64,682,000 after buying an additional 509,585 shares during the last quarter. KBC Group NV raised its holdings in Steelcase by 10.7% in the fourth quarter. KBC Group NV now owns 129,726 shares of the business services provider’s stock worth $1,972,000 after buying an additional 12,554 shares during the last quarter. Swiss National Bank raised its holdings in Steelcase by 5.9% in the fourth quarter. Swiss National Bank now owns 152,600 shares of the business services provider’s stock worth $2,320,000 after buying an additional 8,500 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in Steelcase by 13.6% in the fourth quarter. California Public Employees Retirement System now owns 275,740 shares of the business services provider’s stock worth $4,191,000 after buying an additional 32,948 shares during the last quarter. 62.79% of the stock is owned by institutional investors and hedge funds.
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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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