Steelcase Inc Stock in Q3 2017 Driven by Institutional Investors

January 18, 2018 - By Nellie Frank

 Steelcase Inc Stock  in  Q3 2017 Driven by Institutional Investors

Sentiment for Steelcase Inc (NYSE:SCS)

Steelcase Inc (NYSE:SCS) institutional sentiment increased to 1.32 in Q3 2017. Its up 0.02, from 1.3 in 2017Q2. The ratio improved, as 90 institutional investors opened new or increased positions, while 68 sold and decreased their stock positions in Steelcase Inc. The institutional investors in our partner’s database reported: 70.58 million shares, down from 72.19 million shares in 2017Q2. Also, the number of institutional investors holding Steelcase Inc in their top 10 positions was flat from 0 to 0 for the same number . Sold All: 22 Reduced: 46 Increased: 58 New Position: 32.

Steelcase Inc. manufactures and sells integrated portfolio of furniture settings, user-centered technologies, and interior architectural products. The company has market cap of $1.83 billion. The firm operates through Americas, EMEA, and Other Category divisions. It has a 17.67 P/E ratio. The Company’s furniture systems portfolio comprises panel and freestanding furniture systems, storage, desks, benches, tables, and complementary products, such as worktools.

The stock decreased 0.16% or $0.025 during the last trading session, reaching $15.725. About 366,840 shares traded. Steelcase Inc. (NYSE:SCS) has risen 11.15% since January 18, 2017 and is uptrending. It has underperformed by 5.55% the S&P500.

Spitfire Capital Llc holds 2.99% of its portfolio in Steelcase Inc. for 464,808 shares. Seabridge Investment Advisors Llc owns 350,320 shares or 1.26% of their US portfolio. Moreover, Delphi Management Inc Ma has 1.12% invested in the company for 130,480 shares. The Pennsylvania-based Cooke & Bieler Lp has invested 1.07% in the stock. Walthausen & Co. Llc, a New York-based fund reported 582,052 shares.#img1#

Since January 1, 0001, it had 0 buys, and 1 insider sale for $201,296 activity.

Steelcase Inc. (NYSE:SCS) Ratings Coverage

Ratings analysis reveals 0 of Steelcase’s analysts are positive. Out of 2 Wall Street analysts rating Steelcase, 0 give it “Buy”, 0 “Sell” rating, while 2 recommend “Hold”. The lowest target is $16.0 while the high is $16.0. The stock’s average target of $16 is 1.75% above today’s ($15.725) share price. SCS was included in 7 notes of analysts from September 1, 2015. The firm has “Buy” rating by Sidoti given on Friday, September 1. The stock of Steelcase Inc. (NYSE:SCS) has “Strong-Buy – Outperform” rating given on Friday, June 23 by Raymond James. Raymond James downgraded Steelcase Inc. (NYSE:SCS) on Wednesday, December 23 to “Mkt Perform” rating. The firm has “Hold” rating given on Wednesday, September 20 by Sidoti. As per Friday, November 4, the company rating was initiated by Seaport Global. The rating was downgraded by Zacks on Tuesday, September 1 to “Buy”. Raymond James upgraded the stock to “Strong Buy” rating in Thursday, March 23 report.

Another recent and important Steelcase Inc. (NYSE:SCS) news was published by Seekingalpha.com which published an article titled: “Steelcase: Patience Is Running Out” on December 22, 2017.

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