Bridgeway Capital Management LLC Has $12.26 Million 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 increased its position in 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 and Exchange Commission (SEC). The firm owned 1,118,141 shares of the business services provider's stock after purchasing an additional 36,787 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.98% of Steelcase worth $12,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pacer Advisors Inc. acquired a new position in shares of Steelcase in the 1st quarter worth approximately $11,642,000. Victory Capital Management Inc. raised its stake in Steelcase by 208.4% during the first quarter. Victory Capital Management Inc. now owns 1,413,845 shares of the business services provider's stock worth $15,496,000 after acquiring an additional 955,431 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Steelcase by 72.7% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 917,430 shares of the business services provider's stock valued at $10,055,000 after acquiring an additional 386,290 shares during the period. Millennium Management LLC boosted its stake in shares of Steelcase by 93.6% in the 4th quarter. Millennium Management LLC now owns 694,625 shares of the business services provider's stock valued at $8,210,000 after purchasing an additional 335,889 shares in the last quarter. Finally, Earnest Partners LLC grew its holdings in shares of Steelcase by 36.1% in the 1st quarter. Earnest Partners LLC now owns 1,037,664 shares of the business services provider's stock worth $11,373,000 after purchasing an additional 275,436 shares during the last quarter. Institutional investors own 92.42% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on SCS shares. Wall Street Zen lowered Steelcase from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Noble Financial cut Steelcase from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Steelcase currently has a consensus rating of "Hold" and a consensus target price of $16.00.

Steelcase Trading Up 0.4%

Shares of NYSE SCS opened at $16.85 on Thursday. Steelcase Inc. has a fifty-two week low of $9.31 and a fifty-two week high of $17.13. The firm has a market capitalization of $1.93 billion, a P/E ratio of 16.35, a P/E/G ratio of 1.59 and a beta of 1.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.65 and a quick ratio of 1.15. The company's 50 day simple moving average is $13.26 and its 200 day simple moving average is $11.57.

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

Steelcase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.40 annualized dividend and a dividend yield of 2.4%. Steelcase's dividend payout ratio (DPR) is currently 38.83%.

Insider Activity at Steelcase

In other news, VP Robert G. Krestakos sold 12,000 shares of Steelcase stock in a transaction that occurred 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 sale, the vice president directly owned 127,912 shares in the company, valued at $1,359,704.56. This trade represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.75% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.