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The Company is a designer, marketer and manufacturer of office furniture and complimentary products and services.
S&P 5 star, 16.28
I predict Steelcase Inc will outperform the stock market from here as the fundamentals of this company are improving and this will be reflected in its share price. Steelcase also pays a dividend of over 3% whilst you wait for its share price to improve therefore this is a good investment.
Goes to $6 by New Year.
Good growth and earnings.
#17 Best Corporate Citizenhttp://www.business-ethics.com/node/75
Cost cutting in place, potential tender offer to go back to a private company in the future.Book value is more than current price.Coming off of a 52 week low.38% of market cap is cover by cash.
Business will change with technology and the environment we work in will HAVE to change with it. Remember when a 17" monitor was all we needed? Today because of the flood of information many places have "super sized" their desktops with 21"+ or double monitors. in our "paperless society" we still can't see the top of many desks. The change in our smaller desks means that we have to something will have to change so that the inefficiency stops. Most workspaces look like an a disaster because the design isn't built around work but is built around fashion.Steelcase is one of the few American companies that can make a difference. They have proved it in the past.
Company's debt is still rated investment grade and its dividend produces an impressive at 6.9 % yield despite being cut ln half last month, from 64 cents to 32 cents. The company has a agressive stock repurchase program in effect and is selling at only 7 times 2009 earnings estimates. They are pricing this like it is going broke. The company has $220 million in cash, only $250 million in long term debt and is selling at a 20% discount to book value. The company's price to sales ratio is a meager .18
This company is the Big Blue of the office furniture industry. Virtually debt free, large cash reserves, constant R&D even through tough times and with a terrific network of international dealers. Also, unlike major competitors, they support their dealers 100% and never sell direct to circumvent their dealer network, thus strengthening that network for the long haul.
This is an old solid company that is on sale right now, plus they are paying 5% to wait for the economy to take-off again. Have taken a position @ 11.00
This stock has gone up and down since it's release. When I bought this stock it was at an all time high and has since been plummeting. However, I do forsee this stock going up and maybe will hit the high it was at when I first purcahsed it. This is a strong company with a proven track record. Their product is enduring as is their image. It may take some time, but Steelcase Inc. will prove itself.
New management, New Ideas
Strong focus on lean manufacturing methods will yield significant efficiencies over the long term. See http://www.superfactory.com/sf20
i love the screenerit never lies;)
Attention to ergonomics and environmentally sound design should give it an edge.
Steelcase (SCS) is the world’s leading designer, marketer and manufacturer of office furniture. The company has manufacturing facilities in over 35 locations and distributes products through a network of independent dealers in more than 900 locations around the world. The company offers a range of products with a variety of aesthetic options and performance features.The office furniture industry in which Steelcase operates is a highly competitive market and its outlook is influenced by growth in office sector. With factors like decline in unemployment rate in U.S. by 60 bps to 4.5% in December 2006 combined with a rise in real wage by 1.7% indicates a favorable office outlook. According to Business and International Furniture Manufacturer’s Association (BIFMA) U.S. office furniture market is expected to increase by 7.3% during 2007.The company has a competitive advantage on account of its huge size, which can be clearly seen from its revenue for fiscal 2006 at $2.9 billion, while its nearest competitor Herman Miller hovering around $1.7 billion for the same period. Its enormous size and strong market position enables the company to gain economies of scale and enhances its ability to compete against regional players. Moreover, its growing presence in international market makes it less susceptible to any economic downturn in single market. The company’s top-line for nine months 2007 has improved by 8.9% on account of increased contribution from international segment. Steelcase has recently acquired Posterloid, which would enable the company to further strengthen its leadership position in market. The gaining momentum in job growth rate indicates a favorable environment to office sector, which in turn should boost the demand for Steelcase product.
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