Jacobs Levy Equity Management Inc. Reduces Stock Position in Steelcase Inc. $SCS

Jacobs Levy Equity Management Inc. cut its stake in Steelcase Inc. (NYSE:SCS - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 945,170 shares of the business services provider's stock after selling 23,645 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.82% of Steelcase worth $10,359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SCS. Pacer Advisors Inc. acquired a new position in Steelcase in the 1st quarter worth $11,642,000. Victory Capital Management Inc. boosted its stake in Steelcase by 208.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,413,845 shares of the business services provider's stock worth $15,496,000 after purchasing an additional 955,431 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in Steelcase by 72.7% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 917,430 shares of the business services provider's stock worth $10,055,000 after purchasing an additional 386,290 shares during the period. Millennium Management LLC boosted its stake in Steelcase by 93.6% in the 4th quarter. Millennium Management LLC now owns 694,625 shares of the business services provider's stock worth $8,210,000 after purchasing an additional 335,889 shares during the period. Finally, Earnest Partners LLC boosted its stake in Steelcase by 36.1% in the 1st quarter. Earnest Partners LLC now owns 1,037,664 shares of the business services provider's stock worth $11,373,000 after purchasing an additional 275,436 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

Steelcase Stock Performance

Shares of SCS traded down $0.20 during mid-day trading on Friday, hitting $16.81. 1,778,014 shares of the company's stock were exchanged, compared to its average volume of 1,617,797. The stock's 50-day simple moving average is $14.09 and its 200-day simple moving average is $11.79. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.62 and a beta of 1.26. The company has a quick ratio of 1.15, a current ratio of 1.65 and a debt-to-equity ratio of 0.46. Steelcase Inc. has a 52 week low of $9.31 and a 52 week high of $17.25.

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

Steelcase Dividend Announcement

The firm 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 of this dividend was Monday, July 7th. This represents a $0.40 annualized dividend and a dividend yield of 2.4%. Steelcase's payout ratio is presently 38.83%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, VP Robert G. Krestakos sold 12,000 shares of the business's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $10.63, for a total transaction of $127,560.00. Following the transaction, the vice president directly 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 can be accessed through this link. Company insiders own 6.75% of the company's stock.

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.