Entropy Technologies LP Purchases New Holdings in 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 bought a new stake in Steelcase Inc. (NYSE:SCS - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,830 shares of the business services provider's stock, valued at approximately $173,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE boosted its holdings in Steelcase by 4,509.8% in the first quarter. US Bancorp DE now owns 4,702 shares of the business services provider's stock valued at $52,000 after purchasing an additional 4,600 shares during the period. GAMMA Investing LLC boosted its holdings in Steelcase by 1,468.7% in the first quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider's stock valued at $63,000 after purchasing an additional 5,346 shares during the period. Virtus Fund Advisers LLC lifted its holdings in Steelcase by 228.9% during the 4th quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider's stock worth $93,000 after buying an additional 5,493 shares during the last quarter. Quarry LP lifted its holdings in Steelcase by 162.6% during the 4th quarter. Quarry LP now owns 8,344 shares of the business services provider's stock worth $99,000 after buying an additional 5,166 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in Steelcase during the 1st quarter worth about $121,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on SCS shares. 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 research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Steelcase has a consensus rating of "Hold" and an average price target of $16.00.

Insider Activity at Steelcase

In other news, VP Robert G. Krestakos sold 12,000 shares of Steelcase stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $10.63, for a total transaction of $127,560.00. Following the sale, the vice president owned 127,912 shares in the company, valued at approximately $1,359,704.56. The trade was 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 accessible through this link. Company insiders own 6.75% of the company's stock.

Steelcase Stock Performance

Shares of SCS traded down $0.0750 during midday trading on Thursday, reaching $16.1050. 2,726,859 shares of the stock were exchanged, compared to its average volume of 3,215,498. The business's 50-day moving average price is $12.13 and its 200 day moving average price is $11.27. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.65 and a quick ratio of 1.15. Steelcase Inc. has a twelve month low of $9.31 and a twelve month high of $17.13. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.54 and a beta of 1.18.

Steelcase (NYSE:SCS - Get Free Report) last posted its earnings results on Wednesday, June 25th. The business services provider reported $0.20 EPS for the quarter, topping 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 previous year, the firm earned $0.16 earnings per share. The business's 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, sell-side analysts expect that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

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

Steelcase 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.