Entropy Technologies LP Acquires Shares of 15,830 Steelcase Inc. $SCS

Key Points

• Entropy Technologies LP has acquired a new stake in Steelcase Inc., purchasing 15,830 shares valued at approximately $173,000 during the first quarter.
• Institutional investors own 92.42% of Steelcase's stock, with several firms, including MetLife and Sterling Capital, increasing their holdings in the past quarters.
• Steelcase recently announced a quarterly dividend of $0.10 per share, yielding 2.5% annually, with a payout ratio of 38.83%.

Entropy Technologies LP purchased a new position in shares of Steelcase Inc. (NYSE:SCS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,830 shares of the business services provider's stock, valued at approximately $173,000.

A number of other large investors also recently added to or reduced their stakes in SCS. LPL Financial LLC acquired a new stake in shares of Steelcase in the fourth quarter valued at $191,000. JPMorgan Chase & Co. raised its stake in shares of Steelcase by 59.6% in the fourth quarter. JPMorgan Chase & Co. now owns 474,829 shares of the business services provider's stock valued at $5,612,000 after acquiring an additional 177,315 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Steelcase by 9.2% in the fourth quarter. Renaissance Technologies LLC now owns 224,700 shares of the business services provider's stock valued at $2,656,000 after acquiring an additional 19,000 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Steelcase by 8.3% in the fourth quarter. Sterling Capital Management LLC now owns 34,486 shares of the business services provider's stock valued at $408,000 after acquiring an additional 2,644 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Steelcase by 15.7% in the fourth quarter. Barclays PLC now owns 205,985 shares of the business services provider's stock valued at $2,435,000 after acquiring an additional 27,983 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Steelcase Stock Performance

Shares of SCS traded down $0.0550 during mid-day trading on Wednesday, hitting $16.1850. 981,289 shares of the company's stock were exchanged, compared to its average volume of 1,074,944. 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 $1.86 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.53 and a beta of 1.18. The business's 50 day moving average is $11.90 and its two-hundred day moving average is $11.20. The company has a current ratio of 1.65, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46.

Steelcase (NYSE:SCS - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $759.90 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The business's quarterly revenue was up 7.1% compared to the same quarter last year. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. On average, equities analysts expect that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, July 7th. Steelcase's payout ratio is currently 38.83%.

Insider Activity

In related news, VP Robert G. Krestakos sold 12,000 shares of Steelcase 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 transaction, the vice president directly owned 127,912 shares in the company, valued at $1,359,704.56. The trade was a 8.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

About Steelcase

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.