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 stake in shares of Steelcase Inc. (NYSE:SCS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,342 shares of the business services provider's stock, valued at approximately $223,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. US Bancorp DE boosted its holdings in 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 buying an additional 4,600 shares during the period. GAMMA Investing LLC lifted its stake in 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 in the last quarter. Virtus Fund Advisers LLC lifted its stake in 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 in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Steelcase during the 1st quarter valued at $121,000. Finally, Virtus Advisers LLC purchased a new stake in shares of Steelcase during the 1st quarter valued at $126,000. 92.42% of the stock is owned by institutional investors.

Steelcase Stock Performance

Steelcase stock traded up $0.07 during midday trading on Monday, reaching $17.21. 878,930 shares of the company traded hands, compared to its average volume of 1,876,842. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.63 and a beta of 1.26. The business has a 50 day moving average of $13.65 and a two-hundred day moving average of $11.66. Steelcase Inc. has a 12 month low of $9.31 and a 12 month high of $17.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.65 and a quick ratio of 1.15.

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

Steelcase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were given a $0.10 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.40 annualized dividend and a yield of 2.3%. Steelcase's dividend payout ratio (DPR) is presently 38.83%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Noble Financial cut shares of Steelcase from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Wall Street Zen cut shares of Steelcase from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $16.00.

Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 12,000 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $10.63, for a total value of $127,560.00. Following the completion of the sale, the vice president directly owned 127,912 shares of the company's stock, valued at $1,359,704.56. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.75% of the company's stock.

Steelcase 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.