Eqis Capital Management Inc. Has $434,000 Position in Steelcase Inc. (NYSE:SCS)

Eqis Capital Management Inc. grew its stake in Steelcase Inc. (NYSE:SCS) by 35.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,975 shares of the business services provider’s stock after purchasing an additional 11,224 shares during the period. Eqis Capital Management Inc.’s holdings in Steelcase were worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of SCS. Pzena Investment Management LLC boosted its position in Steelcase by 149.5% during the 3rd quarter. Pzena Investment Management LLC now owns 3,732,219 shares of the business services provider’s stock worth $37,733,000 after buying an additional 2,236,507 shares during the period. LSV Asset Management boosted its position in Steelcase by 0.7% during the 3rd quarter. LSV Asset Management now owns 2,538,165 shares of the business services provider’s stock worth $25,660,000 after buying an additional 17,200 shares during the period. FMR LLC boosted its position in Steelcase by 93.8% during the 2nd quarter. FMR LLC now owns 2,030,586 shares of the business services provider’s stock worth $24,488,000 after buying an additional 982,583 shares during the period. Acadian Asset Management LLC boosted its position in Steelcase by 7.9% during the 3rd quarter. Acadian Asset Management LLC now owns 1,357,849 shares of the business services provider’s stock worth $13,729,000 after buying an additional 99,950 shares during the period. Finally, Fifth Third Bancorp boosted its position in Steelcase by 42.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,336,656 shares of the business services provider’s stock worth $16,120,000 after buying an additional 395,469 shares during the period. Institutional investors own 68.65% of the company’s stock.

Steelcase stock opened at $12.53 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.48 and a current ratio of 1.83. Steelcase Inc. has a 52-week low of $7.02 and a 52-week high of $23.02. The firm has a 50 day moving average price of $11.59 and a two-hundred day moving average price of $11.19. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 10.90 and a beta of 1.59.

Steelcase (NYSE:SCS) last released its quarterly earnings results on Tuesday, September 22nd. The business services provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.18. Steelcase had a net margin of 4.33% and a return on equity of 15.72%. The firm had revenue of $818.80 million during the quarter, compared to analyst estimates of $782.67 million. During the same quarter last year, the business earned $0.50 EPS. The company’s revenue was down 18.0% compared to the same quarter last year.

SCS has been the topic of several recent research reports. Benchmark downgraded shares of Steelcase from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Sidoti upgraded shares of Steelcase from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 15th.

In related news, VP Eddy F. Schmitt purchased 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were bought at an average cost of $10.04 per share, with a total value of $301,200.00. Following the acquisition, the vice president now owns 89,161 shares of the company’s stock, valued at $895,176.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jennifer C. Niemann sold 4,000 shares of the business’s stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $12.29, for a total transaction of $49,160.00. Following the completion of the transaction, the director now directly owns 8,728 shares in the company, valued at $107,267.12. The disclosure for this sale can be found here. Insiders own 12.97% of the company’s stock.

Steelcase Profile

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

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Institutional Ownership by Quarter for Steelcase (NYSE:SCS)

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