Douglas Lane & Associates LLC Has $16.05 Million Stock Holdings in Steelcase Inc. $SCS

Key Points

• Douglas Lane & Associates LLC reduced its stake in Steelcase Inc. by 36.7% during the 2nd quarter, now holding approximately $16.05 million in stock.
• Steelcase reported a $0.20 earnings per share for its last quarter, surpassing analysts' expectations of $0.12, with a revenue increase of 7.1% year-over-year.
• The company recently declared a quarterly dividend of $0.10, resulting in an annual yield of 2.4% as it maintains a 38.83% payout ratio.

Douglas Lane & Associates LLC decreased its position in Steelcase Inc. (NYSE:SCS - Free Report) by 36.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,538,733 shares of the business services provider's stock after selling 893,109 shares during the period. Douglas Lane & Associates LLC owned about 1.34% of Steelcase worth $16,049,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Voya Investment Management LLC lifted its stake in Steelcase by 24.6% in the 1st quarter. Voya Investment Management LLC now owns 67,525 shares of the business services provider's stock valued at $740,000 after acquiring an additional 13,314 shares in the last quarter. Strs Ohio bought a new stake in Steelcase in the 1st quarter valued at approximately $562,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Steelcase by 10.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 188,770 shares of the business services provider's stock valued at $2,069,000 after acquiring an additional 17,940 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Steelcase by 3,634.2% in the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the business services provider's stock valued at $32,000 after acquiring an additional 2,871 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Steelcase in the 1st quarter valued at approximately $259,000. Institutional investors own 92.42% of the company's stock.

Insiders Place Their Bets

In related news, VP Robert G. Krestakos sold 12,000 shares of the stock in a transaction on Friday, July 11th. The stock was sold at an average price of $10.63, for a total value of $127,560.00. Following the sale, the vice president owned 127,912 shares in the company, valued at approximately $1,359,704.56. This represents a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.75% of the company's stock.

Steelcase Trading Down 1.1%

Shares of Steelcase stock opened at $16.81 on Friday. Steelcase Inc. has a 12-month low of $9.31 and a 12-month high of $17.25. The stock has a market cap of $1.93 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.62 and a beta of 1.26. 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 business's 50 day moving average is $14.09 and its 200-day moving average is $11.79.

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 for the quarter, beating analysts' consensus estimates of $0.12 by $0.08. Steelcase had a return on equity of 14.49% and a net margin of 3.84%.The business had revenue of $779.00 million for the quarter, compared to analysts' expectations of $759.90 million. During the same quarter in the prior year, the business earned $0.16 EPS. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. Equities research analysts predict that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

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

Analysts Set New Price Targets

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

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