Empowered Funds LLC Has $5.48 Million Holdings in Steelcase Inc. $SCS

Key Points

• Empowered Funds LLC reduced its stake in Steelcase Inc. by 14.7% during the 1st quarter, now holding 500,141 shares valued at $5.48 million.
• Several institutional investors have made significant adjustments to their holdings in Steelcase, with Jones Financial Companies increasing their stake by an impressive 3,634.2%.
• Steelcase Inc. has been downgraded to a "hold" rating by multiple analysts, with a consensus target price of $16.00 per share after reporting better than expected quarterly earnings.

Empowered Funds LLC lessened its stake in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 500,141 shares of the business services provider's stock after selling 86,213 shares during the period. Empowered Funds LLC owned about 0.44% of Steelcase worth $5,482,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jones Financial Companies Lllp raised its holdings in Steelcase by 3,634.2% during the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the business services provider's stock worth $32,000 after buying an additional 2,871 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Steelcase during the 1st quarter worth about $259,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Steelcase by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,999 shares of the business services provider's stock worth $603,000 after buying an additional 2,403 shares during the period. Bridgeway Capital Management LLC raised its holdings in Steelcase by 3.4% during the 1st quarter. Bridgeway Capital Management LLC now owns 1,118,141 shares of the business services provider's stock worth $12,255,000 after buying an additional 36,787 shares during the period. Finally, Ancora Advisors LLC acquired a new stake in Steelcase during the 1st quarter worth about $623,000. Institutional investors and hedge funds own 92.42% of the company's stock.

Wall Street Analyst Weigh In

SCS has been the topic of a number of 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 investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $16.00.

Insider Activity at Steelcase

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

Steelcase Trading Up 1.8%

Shares of NYSE SCS opened at $17.02 on Friday. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.59 and a beta of 1.26. The business has a 50 day simple moving average of $13.99 and a 200 day simple moving average of $11.76. Steelcase Inc. has a 52 week low of $9.31 and a 52 week 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 announced its quarterly earnings results on Wednesday, June 25th. The business services provider reported $0.20 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 analysts' expectations of $759.90 million. Steelcase had a return on equity of 14.49% and a net margin of 3.84%.The firm's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.16 EPS. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. On average, research analysts predict that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The company 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. 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 payout ratio is presently 38.83%.

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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