PDT Partners LLC Invests $223,000 in Steelcase Inc. $SCS

Key Points

• PDT Partners LLC has acquired a new stake in Steelcase Inc., purchasing 20,342 shares valued at approximately $223,000 in the first quarter of the year.
• Several institutional investors, including Vanguard Group Inc. and Victory Capital Management Inc., have increased their holdings in Steelcase, leading to 92.42% of the stock being owned by institutional investors.
• Steelcase recently reported quarterly earnings of $0.20 EPS, surpassing the consensus estimate of $0.12, with revenue increased by 7.1% year-over-year.

PDT Partners LLC bought a new position in Steelcase Inc. (NYSE:SCS - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 20,342 shares of the business services provider's stock, valued at approximately $223,000.

Several other hedge funds also recently made changes to their positions in the company. US Bancorp DE lifted its holdings in shares of Steelcase by 4,509.8% in the 1st quarter. US Bancorp DE now owns 4,702 shares of the business services provider's stock worth $52,000 after purchasing an additional 4,600 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Steelcase by 1,468.7% in the 1st quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider's stock worth $63,000 after purchasing an additional 5,346 shares during the last quarter. Virtus Fund Advisers LLC lifted its holdings in shares of Steelcase by 228.9% in the 4th quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider's stock worth $93,000 after purchasing an additional 5,493 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Steelcase in the 1st quarter worth approximately $121,000. Finally, Virtus Advisers LLC bought a new stake in shares of Steelcase in the 1st quarter worth approximately $126,000. Institutional investors and hedge funds own 92.42% of the company's stock.

Insiders Place Their Bets

In other Steelcase news, VP Robert G. Krestakos sold 12,000 shares of Steelcase stock in a transaction on Friday, July 11th. The stock was sold at an average price of $10.63, for a total transaction of $127,560.00. Following the sale, the vice president owned 127,912 shares of the company's stock, valued at $1,359,704.56. The trade was a 8.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.75% of the stock is owned by insiders.

Steelcase Stock Performance

Steelcase stock traded up $0.30 during mid-day trading on Thursday, hitting $17.02. 775,407 shares of the company's stock traded hands, compared to its average volume of 1,667,073. The firm has a 50 day moving average price of $13.99 and a 200 day moving average price of $11.76. The company has a quick ratio of 1.15, a current ratio of 1.65 and a debt-to-equity ratio of 0.46. The company has a market cap of $1.95 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.59 and a beta of 1.26. Steelcase Inc. has a one year low of $9.31 and a one year high of $17.25.

Steelcase (NYSE:SCS - Get Free Report) last announced its earnings results on Wednesday, June 25th. The business services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.08. The firm had revenue of $779.00 million for the quarter, compared to the consensus estimate of $759.90 million. Steelcase had a return on equity of 14.49% and a net margin of 3.84%.The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 EPS. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. On average, equities analysts forecast that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.40 annualized dividend and a yield of 2.4%. Steelcase's payout ratio is presently 38.83%.

Wall Street Analysts Forecast Growth

SCS has been the topic of several recent research reports. Wall Street Zen downgraded Steelcase from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Noble Financial downgraded Steelcase from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $16.00.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, mobile power, and screens.