Jacobs Levy Equity Management Inc. Sells 23,645 Shares of Steelcase Inc. $SCS

Jacobs Levy Equity Management Inc. trimmed its stake in shares of 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 (SEC). The institutional investor owned 945,170 shares of the business services provider's stock after selling 23,645 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.82% of Steelcase worth $10,359,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Steelcase by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 10,406,316 shares of the business services provider's stock valued at $114,053,000 after purchasing an additional 65,179 shares during the last quarter. Fifth Third Bancorp lifted its stake in Steelcase by 6.2% in the 1st quarter. Fifth Third Bancorp now owns 3,802,658 shares of the business services provider's stock valued at $41,677,000 after purchasing an additional 223,541 shares during the last quarter. American Century Companies Inc. lifted its stake in Steelcase by 7.0% in the 1st quarter. American Century Companies Inc. now owns 3,235,986 shares of the business services provider's stock valued at $35,466,000 after purchasing an additional 211,158 shares during the last quarter. Victory Capital Management Inc. lifted 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 valued at $15,496,000 after purchasing an additional 955,431 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Steelcase by 3.4% in the 1st quarter. Bridgeway Capital Management LLC now owns 1,118,141 shares of the business services provider's stock valued at $12,255,000 after purchasing an additional 36,787 shares during the last quarter. Institutional investors own 92.42% of the company's stock.

Steelcase Trading Down 1.1%

NYSE SCS traded down $0.20 during trading hours on Friday, reaching $16.81. The company's stock had a trading volume of 1,778,014 shares, compared to its average volume of 1,617,797. The firm has a fifty day simple moving average of $14.09 and a 200-day simple moving average of $11.79. The stock has a market cap of $1.93 billion, a P/E ratio of 16.32, a P/E/G ratio of 1.62 and a beta of 1.26. Steelcase Inc. has a 52 week low of $9.31 and a 52 week high of $17.25. 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 (NYSE:SCS - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The business services provider reported $0.20 earnings per share (EPS) 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 analyst estimates of $759.90 million. Steelcase had a net margin of 3.84% and a return on equity of 14.49%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $0.16 EPS. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. Equities analysts forecast that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were issued a dividend of $0.10 per share. 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 (DPR) is presently 38.83%.

Insider Transactions at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 12,000 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $10.63, for a total transaction of $127,560.00. Following the completion of the transaction, the vice president owned 127,912 shares in the company, valued at approximately $1,359,704.56. This trade represents a 8.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.75% of the company's stock.

Analyst Ratings Changes

SCS has been the subject of several research reports. Wall Street Zen downgraded shares of Steelcase from a "buy" rating to a "hold" rating in a research note 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 research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Steelcase has an average 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.