Earnest Partners LLC Raises Position in Steelcase Inc. $SCS

Key Points

• Earnest Partners LLC increased its stake in **Steelcase Inc.** by **36.1%**, holding over **1 million shares** valued at approximately **$11.37 million**.
• Steelcase reported a quarterly earnings per share of **$0.20**, exceeding analyst expectations, while its revenue increased by **7.1%** year-over-year.
• The company recently declared a quarterly dividend of **$0.10**, yielding **2.4%**, with a payout ratio currently at **38.83%**.

Earnest Partners LLC grew its holdings in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 36.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,037,664 shares of the business services provider's stock after purchasing an additional 275,436 shares during the period. Earnest Partners LLC owned about 0.91% of Steelcase worth $11,373,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SCS. Pacer Advisors Inc. purchased a new stake in Steelcase during the first quarter worth about $11,642,000. Victory Capital Management Inc. increased its stake in Steelcase by 208.4% during the first 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 increased its stake in Steelcase by 72.7% during the first 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 increased its stake in Steelcase by 93.6% during 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 period. Finally, Moran Wealth Management LLC purchased a new stake in Steelcase during the first quarter worth about $2,910,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SCS shares. 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 research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $16.00.

Steelcase Price Performance

NYSE:SCS traded up $0.04 during mid-day trading on Monday, hitting $16.76. 1,337,594 shares of the company's stock traded hands, compared to its average volume of 3,637,468. The company has a market cap of $1.92 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.59 and a beta of 1.26. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.65. The firm's 50 day simple moving average is $12.90 and its 200 day simple moving average is $11.47. Steelcase Inc. has a 1 year low of $9.31 and a 1 year high of $17.13.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.08. The company 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 firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. Sell-side analysts expect that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, July 7th. Steelcase's dividend payout ratio (DPR) is 38.83%.

Insider Activity at Steelcase

In other news, VP Robert G. Krestakos sold 12,000 shares of the firm's stock in a transaction dated Friday, July 11th. The stock was 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. This trade represents a 8.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.75% of the stock is currently owned by company insiders.

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.