Walthausen & Company Holding in Steelcase (SCS) Has Raised as Stock Price Rose; As General Electric (GE) Share Value Declined, Financial Partners Capital Management Raised Its Position

February 11, 2018 - By Darrin Black

Walthausen & Company increased its stake in Steelcase Inc (SCS) by 63.05% based on its latest 2017Q3 regulatory filing with the SEC. Walthausen & Company bought 225,066 shares as the company’s stock rose 2.17% with the market. The institutional investor held 582,052 shares of the office equipment and supplies and services company at the end of 2017Q3, valued at $8.96M, up from 356,986 at the end of the previous reported quarter. Walthausen & Company who had been investing in Steelcase Inc for a number of months, seems to be bullish on the $1.61B market cap company. The stock decreased 2.11% or $0.3 during the last trading session, reaching $13.9. About 1.37M shares traded or 84.14% up from the average. Steelcase Inc. (NYSE:SCS) has risen 11.15% since February 11, 2017 and is uptrending. It has underperformed by 5.55% the S&P500.

Financial Partners Capital Management Llc increased its stake in General Electric (GE) by 20.84% based on its latest 2017Q3 regulatory filing with the SEC. Financial Partners Capital Management Llc bought 31,242 shares as the company’s stock declined 7.64% while stock markets rallied. The institutional investor held 181,187 shares of the consumer electronics and appliances company at the end of 2017Q3, valued at $4.38M, up from 149,945 at the end of the previous reported quarter. Financial Partners Capital Management Llc who had been investing in General Electric for a number of months, seems to be bullish on the $129.56B market cap company. The stock increased 3.39% or $0.49 during the last trading session, reaching $14.94. About 129.06 million shares traded or 39.05% up from the average. General Electric Company (NYSE:GE) has declined 4.46% since February 11, 2017 and is downtrending. It has underperformed by 21.16% the S&P500.

Financial Partners Capital Management Llc, which manages about $519.21 million and $523.10 million US Long portfolio, decreased its stake in Facebook Inc. (NASDAQ:FB) by 7,402 shares to 67,103 shares, valued at $11.47M in 2017Q3, according to the filing. It also reduced its holding in S&P 500 Depository Receipt (SPY) by 4,195 shares in the quarter, leaving it with 100,558 shares, and cut its stake in Ishares Russell 2000 Index (IWM).

Since August 9, 2017, it had 2 insider purchases, and 0 insider sales for $2.50 million activity. $633,375 worth of stock was sold by Comstock Elizabeth J on Wednesday, August 9. On Friday, January 26 the insider DIMITRIEF ALEXANDER bought $43,446.

Among 28 analysts covering General Electric Company (NYSE:GE), 9 have Buy rating, 5 Sell and 14 Hold. Therefore 32% are positive. General Electric Company had 88 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of General Electric Company (NYSE:GE) has “Underperform” rating given on Tuesday, October 24 by Oppenheimer. As per Wednesday, August 26, the company rating was downgraded by TheStreet. The rating was downgraded by Bank of America to “Neutral” on Wednesday, April 26. Credit Suisse maintained the shares of GE in report on Thursday, October 5 with “Outperform” rating. On Wednesday, August 26 the stock rating was upgraded by Vetr to “Buy”. The rating was maintained by S&P Research with “Buy” on Monday, August 17. On Monday, October 30 the stock rating was maintained by Deutsche Bank with “Sell”. The firm earned “Buy” rating on Monday, October 19 by Stifel Nicolaus. The firm earned “Overweight” rating on Monday, October 5 by Barclays Capital. The stock of General Electric Company (NYSE:GE) earned “Sector Perform” rating by RBC Capital Markets on Tuesday, November 14.

Investors sentiment decreased to 0.69 in Q3 2017. Its down 0.10, from 0.79 in 2017Q2. It dived, as 112 investors sold GE shares while 818 reduced holdings. 118 funds opened positions while 525 raised stakes. 4.70 billion shares or 1.82% more from 4.61 billion shares in 2017Q2 were reported. 100,290 were reported by Intrust National Bank & Trust Na. Donaldson Management Limited Liability Corporation invested in 17,032 shares. Edgemoor Investment Advsrs, a Maryland-based fund reported 23,218 shares. First Citizens Retail Bank And Trust Communication, North Carolina-based fund reported 289,155 shares. Fidelity reported 338,900 shares. Ruffer Llp reported 35,800 shares. The Wisconsin-based Mason Street Advsr Ltd Liability Com has invested 0.71% in General Electric Company (NYSE:GE). Miles Capital Inc has invested 0.7% in General Electric Company (NYSE:GE). Capital Planning Advsrs Ltd Com holds 0.12% or 12,263 shares in its portfolio. 1.51M are held by Cibc Mkts Corporation. Moreover, Halsey Ct has 2.23% invested in General Electric Company (NYSE:GE) for 468,225 shares. Northern Management Ltd Liability has 199,709 shares. Yhb Advisors Inc, Connecticut-based fund reported 151,006 shares. Trustmark Bancorporation Trust Department stated it has 0.35% of its portfolio in General Electric Company (NYSE:GE). 957,866 are owned by Stewart & Patten Co Llc.

Since January 4, 2018, it had 0 insider buys, and 1 sale for $201,296 activity.

Among 2 analysts covering Steelcase (NYSE:SCS), 0 have Buy rating, 0 Sell and 2 Hold. Therefore 0 are positive. Steelcase had 7 analyst reports since September 1, 2015 according to SRatingsIntel. On Tuesday, September 1 the stock rating was downgraded by Zacks to “Buy”. The company was upgraded on Friday, September 1 by Sidoti. The rating was downgraded by Raymond James on Wednesday, December 23 to “Mkt Perform”. The firm has “Strong-Buy – Outperform” rating by Raymond James given on Friday, June 23. Seaport Global initiated the shares of SCS in report on Friday, November 4 with “Neutral” rating. On Wednesday, September 20 the stock rating was downgraded by Sidoti to “Hold”. The rating was upgraded by Raymond James on Thursday, March 23 to “Strong Buy”.

Walthausen & Company, which manages about $1.45 billion and $1.07B US Long portfolio, decreased its stake in Ply Gem Holdings Inc (NYSE:PGEM) by 76,000 shares to 782,102 shares, valued at $13.34 million in 2017Q3, according to the filing. It also reduced its holding in Mgp Ingredients Inc (NASDAQ:MGPI) by 57,780 shares in the quarter, leaving it with 227,650 shares, and cut its stake in Mdc Holdings Inc (NYSE:MDC).

Investors sentiment increased to 1.32 in Q3 2017. Its up 0.02, from 1.3 in 2017Q2. It increased, as 22 investors sold SCS shares while 46 reduced holdings. 32 funds opened positions while 58 raised stakes. 70.58 million shares or 2.23% less from 72.19 million shares in 2017Q2 were reported. Dimensional Fund Advsrs Ltd Partnership invested in 3.63 million shares. California State Teachers Retirement System reported 137,115 shares. Nationwide Fund Advsr invested in 179,798 shares. Millennium Ltd Liability Company stated it has 0.01% in Steelcase Inc. (NYSE:SCS). The Illinois-based Guggenheim Ltd Liability Corp has invested 0% in Steelcase Inc. (NYSE:SCS). Banced Corporation reported 0.56% stake. D E Shaw & reported 402,193 shares. Manufacturers Life Insur The has 0% invested in Steelcase Inc. (NYSE:SCS). Cooke & Bieler Limited Partnership accumulated 3.75 million shares. National Bank & Trust Of America De owns 428,440 shares. Tower Capital Ltd Co (Trc) reported 14,756 shares. Franklin Res holds 0.01% or 928,145 shares. Jpmorgan Chase Co has invested 0% in Steelcase Inc. (NYSE:SCS). Citigroup holds 64,782 shares or 0% of its portfolio. Laurion Capital Mngmt Ltd Partnership holds 0% or 24,700 shares.

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