Hotchkis & Wiley Capital Management LLC Purchases 386,290 Shares of Steelcase Inc. $SCS

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Steelcase Inc. by 72.7%, acquiring an additional 386,290 shares to own a total of 917,430 shares worth approximately $10 million.
• Steelcase reported earnings per share of $0.20 for the most recent quarter, surpassing analysts' expectations of $0.12, along with a revenue of $779 million, exceeding the consensus estimate of $759.9 million.
• The company declared a quarterly dividend of $0.10 per share, resulting in an annualized dividend yield of 2.4% with a payout ratio of 38.83%.

Hotchkis & Wiley Capital Management LLC raised its position in Steelcase Inc. (NYSE:SCS - Free Report) by 72.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 917,430 shares of the business services provider's stock after buying an additional 386,290 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.80% of Steelcase worth $10,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC bought a new position in Steelcase in the fourth quarter valued at approximately $191,000. Barclays PLC increased its stake in shares of Steelcase by 15.7% in the 4th quarter. Barclays PLC now owns 205,985 shares of the business services provider's stock valued at $2,435,000 after purchasing an additional 27,983 shares during the last quarter. Mariner LLC bought a new position in shares of Steelcase in the 4th quarter valued at $139,000. Dimensional Fund Advisors LP raised its holdings in shares of Steelcase by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,425,529 shares of the business services provider's stock worth $64,129,000 after buying an additional 47,748 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Steelcase by 2.0% during the 4th quarter. MetLife Investment Management LLC now owns 54,643 shares of the business services provider's stock worth $646,000 after buying an additional 1,079 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Steelcase Price Performance

SCS stock opened at $16.4950 on Monday. The company has a market capitalization of $1.89 billion, a P/E ratio of 16.01, a PEG ratio of 1.57 and a beta of 1.18. The company has a fifty day moving average price of $12.26 and a 200-day moving average price of $11.30. 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 Inc. has a 52-week low of $9.31 and a 52-week high of $17.13.

Steelcase (NYSE:SCS - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $779.00 million during the quarter, compared to the consensus estimate of $759.90 million. Steelcase had a return on equity of 14.49% and a net margin of 3.84%.Steelcase's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. As a group, equities analysts expect that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The business also recently disclosed 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, July 7th. Steelcase's dividend payout ratio (DPR) is 38.83%.

Insider Activity at Steelcase

In related news, VP Robert G. Krestakos sold 12,000 shares of the company'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 sale, the vice president directly owned 127,912 shares in the company, valued at $1,359,704.56. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.75% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen cut Steelcase from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Noble Financial downgraded shares of Steelcase from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Steelcase presently 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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