Invesco Ltd. Has $3.26 Million Stock Holdings in Steelcase Inc. $SCS

Key Points

• Invesco Ltd. has reduced its stake in Steelcase Inc. by 7.2%, now holding approximately $3.26 million worth of shares.
• Steelcase Inc. recently declared a quarterly dividend of $0.10 per share, reflecting an annualized payout of $0.40 and a dividend yield of 2.4%.
• The company has seen significant investment interest from institutional investors, with 92.42% of the company's stock now owned by them, indicating strong market confidence.

Invesco Ltd. decreased its holdings in Steelcase Inc. (NYSE:SCS - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 297,162 shares of the business services provider's stock after selling 23,070 shares during the quarter. Invesco Ltd. owned 0.26% of Steelcase worth $3,257,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE grew its stake in shares of Steelcase by 4,509.8% in the first quarter. US Bancorp DE now owns 4,702 shares of the business services provider's stock worth $52,000 after purchasing an additional 4,600 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Steelcase by 1,468.7% in the first quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider's stock worth $63,000 after purchasing an additional 5,346 shares in the last quarter. Virtus Fund Advisers LLC boosted its stake in Steelcase by 228.9% during the fourth quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider's stock valued at $93,000 after buying an additional 5,493 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Steelcase during the first quarter valued at about $121,000. Finally, Boothbay Fund Management LLC bought a new position in Steelcase during the fourth quarter valued at about $135,000. Institutional investors own 92.42% of the company's stock.

Insider Transactions at Steelcase

In other Steelcase 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.75% of the stock is owned by corporate insiders.

Steelcase Price Performance

SCS traded up $0.04 during trading on Monday, hitting $16.76. The company's stock had a trading volume of 1,337,594 shares, compared to its average volume of 3,637,468. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.59 and a beta of 1.26. Steelcase Inc. has a 12 month low of $9.31 and a 12 month high of $17.13. The company has a quick ratio of 1.15, a current ratio of 1.65 and a debt-to-equity ratio of 0.46. The firm's 50 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 released its earnings results on Wednesday, June 25th. The business services provider reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. The company 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%.The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. Sell-side analysts forecast that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid a $0.10 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.40 annualized dividend and a yield of 2.4%. Steelcase's dividend payout ratio is currently 38.83%.

Wall Street Analysts Forecast Growth

SCS has been the subject of several research reports. Noble Financial cut Steelcase from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Wall Street Zen cut Steelcase from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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.