AlphaQuest LLC Reduces Stake in Steelcase Inc. $SCS

Key Points

• AlphaQuest LLC significantly reduced its holdings in Steelcase Inc. by 92.3% in the first quarter, selling 59,176 shares and retaining only 4,922 shares valued at $54,000.
• Several other institutional investors have increased their stakes in Steelcase, with US Bancorp DE raising its stake by 4,509.8% and GAMMA Investing LLC increasing theirs by 1,468.7% during the same period.
• Steelcase recently declared a quarterly dividend of $0.10 per share, resulting in an annualized dividend yield of 2.4% with a payout ratio of 38.83%.

AlphaQuest LLC cut its position in Steelcase Inc. (NYSE:SCS - Free Report) by 92.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,922 shares of the business services provider's stock after selling 59,176 shares during the period. AlphaQuest LLC's holdings in Steelcase were worth $54,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Steelcase by 4,509.8% during the first quarter. US Bancorp DE now owns 4,702 shares of the business services provider's stock worth $52,000 after buying an additional 4,600 shares during the last quarter. GAMMA Investing LLC raised its position in Steelcase by 1,468.7% in the first quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider's stock valued at $63,000 after purchasing an additional 5,346 shares during the period. Virtus Fund Advisers LLC raised its position in Steelcase by 228.9% in the fourth quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider's stock valued at $93,000 after purchasing an additional 5,493 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in Steelcase in the first quarter valued at $121,000. Finally, Mariner LLC purchased a new stake in Steelcase in the fourth quarter valued at $139,000. Institutional investors and hedge funds own 92.42% of the company's stock.

Insider Activity

In related news, VP Robert G. Krestakos sold 12,000 shares of the company'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 completion of the sale, the vice president directly owned 127,912 shares of the company's stock, valued at $1,359,704.56. This represents a 8.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.75% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Steelcase Stock Down 1.5%

SCS traded down $0.26 on Tuesday, hitting $16.97. 252,900 shares of the company were exchanged, compared to its average volume of 1,126,898. Steelcase Inc. has a twelve month low of $9.31 and a twelve month high of $17.25. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.63 and a beta of 1.26. The company has a current ratio of 1.65, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $13.65 and a two-hundred day moving average price of $11.66.

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

Steelcase Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.4%. Steelcase's dividend payout ratio 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.