208,255 Shares in Steelcase Inc. $SCS Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new position in Steelcase Inc., purchasing 208,255 shares valued at approximately $2.28 million, which represents around 0.18% of the company's total shares.
• Steelcase reported earnings per share of $0.20 for the recent quarter, exceeding expectations of $0.12, with revenue increasing by 7.1% year-over-year.
• The company declared a quarterly dividend of $0.10 per share, translating to an annualized dividend yield of 2.4%.

Nuveen LLC purchased a new stake in Steelcase Inc. (NYSE:SCS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 208,255 shares of the business services provider's stock, valued at approximately $2,282,000. Nuveen LLC owned about 0.18% of Steelcase as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Avantax Advisory Services Inc. grew its stake in shares of Steelcase by 54.6% in 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 grew its stake in shares of Steelcase by 6.1% in the fourth quarter. Northern Trust Corp now owns 1,011,144 shares of the business services provider's stock worth $11,952,000 after purchasing an additional 58,079 shares during the last quarter. Millennium Management LLC grew its stake in shares of Steelcase by 93.6% in the fourth 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 last quarter. Deutsche Bank AG grew its stake in shares of Steelcase by 57.0% in the fourth quarter. Deutsche Bank AG now owns 80,787 shares of the business services provider's stock worth $955,000 after purchasing an additional 29,325 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Steelcase by 42.0% in the first quarter. SG Americas Securities LLC now owns 45,528 shares of the business services provider's stock worth $499,000 after purchasing an additional 13,476 shares during the last quarter. Institutional investors own 92.42% of the company's stock.

Insider Buying and Selling

In other Steelcase news, VP Robert G. Krestakos sold 12,000 shares of the company's stock in a transaction dated Friday, July 11th. The shares were 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 approximately $1,359,704.56. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.75% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on SCS shares. Wall Street Zen cut 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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $16.00.

Steelcase Price Performance

SCS stock traded up $0.04 during mid-day trading on Monday, reaching $16.76. 1,337,594 shares of the company traded hands, compared to its average volume of 3,637,468. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.65 and a quick ratio of 1.15. The company has a market capitalization of $1.92 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.59 and a beta of 1.26. Steelcase Inc. has a 52-week low of $9.31 and a 52-week high of $17.13. The company has a fifty day moving average price of $13.02 and a 200-day moving average price of $11.50.

Steelcase (NYSE:SCS - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The business services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. The company had revenue of $779.00 million during the quarter, compared to analyst estimates of $759.90 million. Steelcase had a return on equity of 14.49% and a net margin of 3.84%.Steelcase's revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. As a group, analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were issued 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 (DPR) is 38.83%.

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.