Wellington Management Group LLP boosted its position in Steelcase Inc. (NYSE:SCS) by 5.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,729,643 shares of the company’s stock after buying an additional 134,228 shares during the period. Wellington Management Group LLP owned about 2.23% of Steelcase worth $40,726,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC purchased a new position in shares of Steelcase during the first quarter worth about $138,000. Banced Corp increased its position in shares of Steelcase by 11.5% in the first quarter. Banced Corp now owns 17,112 shares of the company’s stock worth $255,000 after buying an additional 1,769 shares in the last quarter. BlackRock Inc. increased its position in shares of Steelcase by 19.7% in the first quarter. BlackRock Inc. now owns 18,974 shares of the company’s stock worth $283,000 after buying an additional 3,123 shares in the last quarter. Pacad Investment Ltd. purchased a new position in shares of Steelcase during the first quarter worth about $395,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Steelcase by 13.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 77,462 shares of the company’s stock worth $1,154,000 after buying an additional 9,134 shares in the last quarter.
Steelcase Inc. (NYSE:SCS) traded up 2.31% during mid-day trading on Tuesday, reaching $14.62. 653,666 shares of the company’s stock were exchanged. The company has a market capitalization of $1.74 billion and a P/E ratio of 10.72. Steelcase Inc. has a 52 week low of $11.67 and a 52 week high of $20.37. The company’s 50 day moving average price is $14.57 and its 200-day moving average price is $14.22.
A number of brokerages recently issued reports on SCS. TheStreet upgraded shares of Steelcase from a “hold” rating to a “buy” rating in a research note on Tuesday, April 19th. Zacks Investment Research downgraded shares of Steelcase from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd.
In other Steelcase news, VP Sara E. Armbruster sold 14,000 shares of the stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $13.50, for a total value of $189,000.00. Following the sale, the vice president now directly owns 99,711 shares of the company’s stock, valued at $1,346,098.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
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.
