Bridgeway Capital Management LLC Increases Stock Holdings in Steelcase Inc. $SCS

Key Points

• Bridgeway Capital Management LLC increased its holdings in Steelcase Inc. by 3.4%, owning approximately 1,118,141 shares worth $12.26 million as of the end of the most recent quarter.
• Steelcase recently released earnings results, reporting $0.20 EPS which exceeded analysts' expectations, alongside a revenue of $779 million—7.1% higher than the previous year.
• The company's recent quarterly dividend declared is $0.10, signifying an annualized dividend of $0.40 and a yield of 2.4%, with a payout ratio currently at 38.83%.

Bridgeway Capital Management LLC raised its holdings in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,118,141 shares of the business services provider's stock after buying an additional 36,787 shares during the quarter. Bridgeway Capital Management LLC owned about 0.98% of Steelcase worth $12,255,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Mariner LLC bought a new stake in shares of Steelcase during the 4th quarter valued at about $139,000. Price T Rowe Associates Inc. MD raised its stake in Steelcase by 6.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 94,223 shares of the business services provider's stock valued at $1,114,000 after purchasing an additional 5,872 shares in the last quarter. Voya Investment Management LLC lifted its position in Steelcase by 35.0% during the fourth quarter. Voya Investment Management LLC now owns 54,211 shares of the business services provider's stock valued at $641,000 after purchasing an additional 14,044 shares during the last quarter. Northern Trust Corp grew its stake in Steelcase by 6.1% in the 4th quarter. Northern Trust Corp now owns 1,011,144 shares of the business services provider's stock worth $11,952,000 after buying an additional 58,079 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of Steelcase by 48.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 24,400 shares of the business services provider's stock worth $288,000 after buying an additional 8,000 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Steelcase Trading Down 1.5%

NYSE:SCS traded down $0.26 during trading hours on Tuesday, reaching $16.97. The company's stock had a trading volume of 606,870 shares, compared to its average volume of 1,128,940. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.63 and a beta of 1.26. The firm has a 50-day simple moving average of $13.65 and a 200-day simple moving average of $11.66. Steelcase Inc. has a 1 year low of $9.31 and a 1 year high of $17.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.65.

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

Steelcase Announces Dividend

The business also recently disclosed 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 2.4%. Steelcase's payout ratio is presently 38.83%.

Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 12,000 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president owned 127,912 shares of the company's stock, valued at approximately $1,359,704.56. This represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.75% of the company's stock.

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.