S.A. Mason LLC Increases Stock Position in Steelcase Inc. $SCS

Key Points

• S.A. Mason LLC significantly increased its ownership in Steelcase Inc. by 294.5% during the second quarter, acquiring an additional 99,520 shares, bringing its total to 133,313 shares valued at approximately $1.39 million.
• Several institutional investors have also made substantial increases in their positions with Jones Financial raising its holdings by 3,634.2% in the first quarter alone.
• Analysts have recently downgraded Steelcase's stock from "buy" to "hold," with a current consensus rating and price target of $16.00.

S.A. Mason LLC increased its position in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 294.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,313 shares of the business services provider's stock after buying an additional 99,520 shares during the period. S.A. Mason LLC owned 0.12% of Steelcase worth $1,390,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in Steelcase by 7.6% during the second quarter. Harbor Capital Advisors Inc. now owns 22,707 shares of the business services provider's stock worth $237,000 after buying an additional 1,601 shares during the last quarter. Voya Investment Management LLC increased its stake in Steelcase by 24.6% in the first quarter. Voya Investment Management LLC now owns 67,525 shares of the business services provider's stock valued at $740,000 after purchasing an additional 13,314 shares in the last quarter. Strs Ohio bought a new stake in Steelcase in the first quarter valued at $562,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Steelcase by 10.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 188,770 shares of the business services provider's stock valued at $2,069,000 after purchasing an additional 17,940 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in Steelcase by 3,634.2% in the first quarter. Jones Financial Companies Lllp now owns 2,950 shares of the business services provider's stock valued at $32,000 after purchasing an additional 2,871 shares in the last quarter. Institutional investors own 92.42% of the company's stock.

Steelcase Stock Up 0.1%

Steelcase stock traded up $0.02 during midday trading on Monday, hitting $16.90. 1,864,573 shares of the stock were exchanged, compared to its average volume of 1,617,333. Steelcase Inc. has a 52-week low of $9.31 and a 52-week high of $17.25. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.26. The business's 50-day moving average price is $14.83 and its 200-day moving average price is $12.00. 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 (NYSE:SCS - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The business services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. The business had revenue of $779.00 million for the quarter, compared to analysts' expectations of $759.90 million. Steelcase had a net margin of 3.84% and a return on equity of 14.49%. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. On average, research analysts expect that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Shareholders 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 payout ratio is presently 38.83%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in 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 equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Steelcase presently has a consensus rating of "Hold" and a consensus target price of $16.00.

Insiders Place Their Bets

In other Steelcase 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 value of $127,560.00. Following the transaction, the vice president directly owned 127,912 shares in the company, valued at $1,359,704.56. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.75% of the stock is currently owned by insiders.

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.