Steelcase Inc. $SCS Shares Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC boosted its stake in Steelcase Inc. by 19.6% during the first quarter, owning approximately $1.28 million worth of shares as of the latest SEC filing.
• Steelcase reported a quarterly earnings per share of $0.20, surpassing analysts' expectations of $0.12, while revenue grew 7.1% year-over-year to $779 million.
• The company recently declared a quarterly dividend of $0.10 per share, yielding 2.4% annually, with a dividend payout ratio of 38.83%.

Hsbc Holdings PLC lifted its holdings in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 19.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,456 shares of the business services provider's stock after purchasing an additional 18,948 shares during the quarter. Hsbc Holdings PLC owned about 0.10% of Steelcase worth $1,283,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Avantax Advisory Services Inc. boosted its holdings in shares of Steelcase by 54.6% during the first quarter. Avantax Advisory Services Inc. now owns 102,699 shares of the business services provider's stock worth $1,126,000 after purchasing an additional 36,273 shares during the last quarter. Northern Trust Corp boosted its holdings in Steelcase by 6.1% in the fourth quarter. Northern Trust Corp now owns 1,011,144 shares of the business services provider's stock valued at $11,952,000 after acquiring an additional 58,079 shares during the last quarter. Millennium Management LLC boosted its holdings in Steelcase by 93.6% in the fourth quarter. Millennium Management LLC now owns 694,625 shares of the business services provider's stock valued at $8,210,000 after acquiring an additional 335,889 shares during the last quarter. Deutsche Bank AG boosted its holdings in Steelcase by 57.0% in the fourth quarter. Deutsche Bank AG now owns 80,787 shares of the business services provider's stock valued at $955,000 after acquiring an additional 29,325 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Steelcase by 42.0% in the first quarter. SG Americas Securities LLC now owns 45,528 shares of the business services provider's stock valued at $499,000 after acquiring an additional 13,476 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Steelcase Stock Up 0.2%

Shares of NYSE SCS traded up $0.04 during midday trading on Monday, reaching $16.76. 1,337,594 shares of the company's stock were exchanged, compared to its average volume of 3,637,468. Steelcase Inc. has a 52-week low of $9.31 and a 52-week high of $17.13. The stock has a market capitalization of $1.92 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.59 and a beta of 1.26. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.65. The business's fifty day moving average price is $13.02 and its two-hundred day moving average price is $11.50.

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 (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 analyst estimates of $759.90 million. During the same period in the previous year, the company earned $0.16 earnings per share. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. Analysts forecast that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

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. 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 (DPR) is 38.83%.

Insider Buying and Selling

In related 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 value of $127,560.00. Following the completion of the transaction, the vice president directly owned 127,912 shares in the company, valued at approximately $1,359,704.56. This trade represents 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.

Wall Street Analyst Weigh In

SCS has been the topic of a number of research analyst reports. Wall Street Zen cut 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 research report on Tuesday, August 5th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $16.00.

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.