Victory Capital Management Reduces Holdings in Steelcase

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Steelcase Inc ($NYSE:SCS), a publicly traded office furniture manufacturer, has experienced a decrease in the amount of shares held by Victory Capital Management, Inc. Victory Capital Management is a publicly traded asset management firm that is headquartered in Cleveland, Ohio. Steelcase Inc provides furniture solutions to a wide range of industries and is one of the world’s leading office furniture manufacturers. The company has helped create some of the most iconic and innovative office spaces around the world, from Google’s headquarters in Mountain View to the United Nations’ headquarters in New York City. Despite its impressive portfolio of clients, Steelcase Inc has faced some challenges in recent years, as the demand for office furniture has declined due to the rise of open-plan offices and the increase in remote working.

Despite these factors, Steelcase has continued to invest in technological innovation and developing new products that meet the ever-evolving needs of the modern office. Victory Capital Management’s decision to reduce its stake in Steelcase is likely due to the uncertain future of the office furniture market.

Price History

Victory Capital Management Inc. recently reduced its stake in Steelcase Inc. On Tuesday, the stock opened at $7.2 and closed at $6.8, down 3.7% from its previous closing price of $7.1. This represents a reduction in Victory Capital Management Inc.’s holdings in Steelcase Inc., indicating that the company may be losing confidence in the future of the company. This could be a sign of further decreases in the stock price in the near future, as the market continues to be uncertain about the direction of Steelcase Inc.’s business. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Steelcase Inc. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Steelcase Inc. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Steelcase Inc. More…

Key Ratios Snapshot

Some of the financial key ratios for Steelcase Inc are shown below. More…

Analysis

GoodWhale has conducted an analysis of STEELCASE INC‘s fundamentals and the results are very interesting. Based on our Star Chart, we have concluded that STEELCASE INC is strong in asset, dividend and profitability, and weak in growth. We have also given STEELCASE INC a health score of 7/10 due to its strong cashflows and debt. Based on these findings, we have classified STEELCASE INC as ‘rhino’, which we conclude is a type of company that has achieved moderate revenue or earnings growth. We believe that investors who are looking for steady, moderate returns over time may be interested in STEELCASE INC. More…

Peers

Founded in 1912, Steelcase Inc. has grown to become one of the largest and most successful office furniture manufacturers in the world. The company’s main competitors include Okamura Corp, AHB Holdings Bhd, and Kokuyo Co Ltd, all of which are global leaders in office furniture manufacturing. Steelcase Inc. offers a broad selection of products and services that meet the needs of businesses and organizations around the world.

– Okamura Corp ($TSE:7994)

Okamura Corp is a Japanese office furniture manufacturer and supplier. It has a market cap of 132.04B as of 2022, which places it among the largest companies in Japan and the world. Additionally, Okamura Corp has a Return on Equity (ROE) of 10.02%, indicating that it is a profitable and efficient company. This high ROE demonstrates that Okamura Corp is capable of generating a healthy return on its equity while providing quality products and services to its customers.

– AHB Holdings Bhd ($KLSE:7315)

AHB Holdings Bhd is a Malaysian-based investment holding company that provides a range of services including money lending, corporate finance, investment banking, and stockbroking. The company has a market cap of 52.61M as of 2022, making it a small-cap company. The Return on Equity (ROE) of AHB Holdings stands at -11.97%, indicating that the company is not generating enough profit to cover its cost of equity. This means that the company is not achieving the adequate return on its shareholders’ investments.

– Kokuyo Co Ltd ($TSE:7984)

Kokuyo Co Ltd is a Japanese stationery and office products company based in Tokyo, Japan. It has a market capitalization of 214.96B as of 2022 and a Return on Equity of 5.94%. This suggests that the company has been able to effectively utilize its assets and equity to generate profit. The company manufactures a wide range of office supplies, including stationery, paper products, desks, and furniture. It also produces environmental-friendly products such as recycle paper and eco-friendly ink. The company has a strong presence in Japan and other parts of Asia, with products being sold in more than 100 countries around the world.

Summary

Steelcase Inc is a publicly traded company on the NYSE. The stock price has been volatile recently, with Victory Capital Management Inc reducing its stake in the stock. Analysts have generally been positive about the company’s prospects in the near term, citing its strong balance sheet, healthy operating margins, and positive cash flow.

However, it is important to consider macroeconomic and industry trends when making investment decisions. Analysts recommend that investors use fundamental and technical analysis to track the performance of the stock, and identify any changes in the market that might result in a rise or fall in the stock price. They also advise investors to regularly monitor news affecting the company and its industry to stay informed about potential market developments.