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Steelcase Inc. (NYSE:SCS) Shares Sold by Shell Asset Management Co.

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12 May, 2023

Shell Asset Management Co. lessened its position in shares of Steelcase Inc. (NYSE:SCS) by 21.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,328 shares of the business services provider’s stock after selling 5,920 shares during the quarter. Shell Asset Management Co.’s holdings in Steelcase were worth $158,000 at the end of the most recent reporting period.

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Oppenheimer Asset Management Reduces Position in Steelcase Inc. as Director Sells Shares

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9 May, 2023

In a recent filing with the Securities and Exchange Commission (SEC), Oppenheimer Asset Management Inc. has decreased its position in Steelcase Inc. (NYSE:SCS) by 18.9% during the 4th quarter. The firm owned 69,374 shares of the business services provider’s stock after selling 16,131 shares during the quarter. At the end of the most recent reporting period, Oppenheimer Asset Management Inc. owned 0.06% of Steelcase worth $490,000.

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Steelcase approves plans for workforce reductions in France

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4 May, 2023

Steelcase (NYSE:SCS) disclosed:

On May 3, 2023, in response to persisting inflationary pressures and decreasing plant utilization in Europe, the Middle East and Africa (“EMEA”), the Board of Directors of Steelcase Inc . (the “Company”) approved plans for workforce reductions in France. These plans involve the reduction of approximately 40 to 50 salaried roles. The Company expects to incur approximately $10 million to $13 million in pre-tax restructuring charges in connection with these actions, consisting of cash severance payments and payment of other separation-related benefits. The Company has initiated procedures with the French central works council and will work closely with the French Labor Administration for approval of these actions. Depending on the timing of such approval, the actions are expected to be completed by the end of the Company’s fiscal year 2024, with most of the departures expected to be completed by the end of the third quarter of the Company’s fiscal year 2024. The Company anticipates annualized savings from these actions will be approximately $4 million to $5 million when fully implemented.

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STEELCASE INC : Costs Associated with Exit or Disposal Activities, Regulation FD Disclosure (form 8-K)

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4 May, 2023

Item 2.05. Costs Associated with Exit or Disposal Activities.

On May 3, 2023, in response to persisting inflationary pressures and decreasing plant utilization in Europe, the Middle East and Africa (“EMEA”), the Board of Directors of Steelcase Inc. (the “Company”) approved plans for workforce reductions in France. These plans involve the reduction of approximately 40 to 50 salaried roles. The Company expects to incur approximately $10 million to $13 million in pre-tax restructuring charges in connection with these actions, consisting of cash severance payments and payment of other separation-related benefits. The Company has initiated procedures with the French central works council and will work closely with the French Labor Administration for approval of these actions. Depending on the timing of such approval, the actions are expected to be completed by the end of the Company’s fiscal year 2024, with most of the departures expected to be completed by the end of the third quarter of the Company’s fiscal year 2024. The Company anticipates annualized savings from these actions will be approximately $4 million to $5 million when fully implemented.

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Nisa Investment Advisors LLC Has $264,000 Stake in Steelcase Inc. (NYSE:SCS)

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30 April, 2023

Nisa Investment Advisors LLC boosted its stake in Steelcase Inc. (NYSE:SCS) by 1,466.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,387 shares of the business services provider’s stock after buying an additional 35,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Steelcase were worth $264,000 at the end of the most recent quarter.

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Natixis Advisors L.P. Sells 1,645 Shares of Steelcase Inc. (NYSE:SCS)

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25 April, 2023

Natixis Advisors L.P. lessened its position in Steelcase Inc. (NYSE:SCS) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,407 shares of the business services provider’s stock after selling 1,645 shares during the period. Natixis Advisors L.P.’s holdings in Steelcase were worth $208,000 at the end of the most recent quarter.

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Steelcase Gets a Quantitative Upgrade

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19 April, 2023

Steelcase ( SCS) was upgraded Wednesday by TheStreet’s  Quant Ratings service. Let’s check out the charts and indicators to see if they are in agreement.
In this daily bar chart of SCS, below, I can see that prices are poised to push to the upside. SCS trades above the 50-day moving average line but below the 200-day line. The trading volume has been more active since September.

Steelcase to Host, Webcast Investor Day May 4

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17 April, 2023

GRAND RAPIDS, Mich., April 17, 2023 (GLOBE NEWSWIRE) — Steelcase Inc. (NYSE: SCS) will hold an Investor Day event Thursday, May 4, 2023, at the Steelcase WorkLife Center, 4 Columbus Circle, New York, NY. The event will also be available by live webcast. Presentations by Sara Armbruster, President and CEO, and other Steelcase management will begin at 9:00 a.m. ET.

Registration for the event is available on the company’s website under Events & Presentations at http://ir.steelcase.com. A recording of management presentations and Q+A will be available on the website shortly after the event concludes.

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Steelcase Inc. Sees Decrease in Holdings by Versor Investments LP Amid Impressive Earnings and Director’s Insider Selling

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17 April, 2023

Steelcase Inc. (NYSE:SCS) has recently had a decrease in holdings by Versor Investments LP, which sold 34.9% of its shares during the fourth quarter. This move has resulted in the fund owning 42,100 shares of SCS’s stock worth $298,000 as stated in the most recent Form 13F filing with the U.S Securities and Exchange Commission (SEC).

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STEELCASE INC Management’s Discussion and Analysis of Financial Condition and Results of Operations: (form 10-K)

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14 April, 2023

The following review of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and accompanying notes thereto included elsewhere within this Report.

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