Zebra Capital Management LLC lowered its stake in shares of Steelcase Inc. (NYSE:SCS) by 49.6% during the second quarter, HoldingsChannel reports. The firm owned 37,914 shares of the business services provider’s stock after selling 37,319 shares during the quarter. Zebra Capital Management LLC’s holdings in Steelcase were worth $512,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake in Steelcase by 15.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 28,021 shares of the business services provider’s stock valued at $379,000 after acquiring an additional 3,839 shares during the period. Xact Kapitalforvaltning AB raised its stake in Steelcase by 31.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 16,618 shares of the business services provider’s stock valued at $226,000 after acquiring an additional 4,000 shares during the period. MetLife Investment Advisors LLC raised its stake in Steelcase by 12.4% in the 2nd quarter. MetLife Investment Advisors LLC now owns 39,276 shares of the business services provider’s stock valued at $530,000 after acquiring an additional 4,332 shares during the period. Summit Trail Advisors LLC raised its stake in Steelcase by 53.0% in the 1st quarter. Summit Trail Advisors LLC now owns 13,044 shares of the business services provider’s stock valued at $180,000 after acquiring an additional 4,521 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Steelcase by 10.1% in the 1st quarter. Principal Financial Group Inc. now owns 56,516 shares of the business services provider’s stock valued at $769,000 after acquiring an additional 5,192 shares during the period. Institutional investors own 63.71% of the company’s stock.

SCS opened at $15.35 on Tuesday. Steelcase Inc. has a 1-year low of $13.10 and a 1-year high of $15.90. The company has a current ratio of 1.61, a quick ratio of 1.18 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.80 billion, a P/E ratio of 16.87 and a beta of 1.33.

Steelcase (NYSE:SCS) last posted its quarterly earnings results on Wednesday, June 20th. The business services provider reported $0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.14. Steelcase had a return on equity of 13.38% and a net margin of 2.59%. The business had revenue of $754.00 million for the quarter, compared to analysts’ expectations of $754.17 million. During the same quarter in the prior year, the business earned $0.15 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. equities analysts expect that Steelcase Inc. will post 0.95 earnings per share for the current year.

A number of equities research analysts recently weighed in on SCS shares. TheStreet cut Steelcase from a “b-” rating to a “c+” rating in a research note on Monday, June 25th. Zacks Investment Research cut Steelcase from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Finally, ValuEngine upgraded Steelcase from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Four equities research analysts have rated the stock with a hold rating, Steelcase currently has an average rating of “Hold” and an average target price of $16.00.

In other Steelcase news, Director Jennifer C. Niemann sold 3,400 shares of the stock in a transaction on Friday, July 6th. The stock was sold at an average price of $14.17, for a total transaction of $48,178.00. Following the transaction, the director now owns 3,838 shares in the company, valued at approximately $54,384.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sara E. Armbruster sold 10,000 shares of the stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $13.75, for a total value of $137,500.00. Following the transaction, the vice president now owns 67,474 shares in the company, valued at approximately $927,767.50. The disclosure for this sale can be found here. 17.58% of the stock is owned by company insiders.

Steelcase Company Profile

Steelcase Inc manufactures and sells integrated furniture settings, user-centered technologies, and interior architectural products. It operates through Americas, EMEA, and Other Category segments. The company's furniture portfolio includes panel-based furniture systems, storage products, fixed and height-adjustable desks, benches, and tables, as well as other products, including worktools.

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Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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