AlphaQuest LLC Reduces Stock Holdings 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 stake in Steelcase Inc. (NYSE:SCS - Free Report) by 92.3% in the first quarter, according to the company in its most recent disclosure 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 SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Mariner LLC acquired a new position in Steelcase during the fourth quarter worth about $139,000. Price T Rowe Associates Inc. MD lifted its position in shares of Steelcase by 6.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 94,223 shares of the business services provider's stock worth $1,114,000 after buying an additional 5,872 shares during the last quarter. Voya Investment Management LLC lifted its position in Steelcase by 35.0% in the 4th quarter. Voya Investment Management LLC now owns 54,211 shares of the business services provider's stock valued at $641,000 after purchasing an additional 14,044 shares during the last quarter. Northern Trust Corp increased its stake in Steelcase by 6.1% during the 4th quarter. Northern Trust Corp now owns 1,011,144 shares of the business services provider's stock valued at $11,952,000 after buying an additional 58,079 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its stake in shares of Steelcase by 48.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 24,400 shares of the business services provider's stock worth $288,000 after purchasing an additional 8,000 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Steelcase news, VP Robert G. Krestakos sold 12,000 shares of the business's stock in a transaction that occurred on 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 owned 127,912 shares in the company, valued at approximately $1,359,704.56. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.75% of the stock is owned by insiders.

Steelcase Price Performance

SCS traded up $0.09 on Monday, hitting $17.23. 425,220 shares of the stock were exchanged, compared to its average volume of 1,129,549. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.63 and a beta of 1.26. 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 Inc. has a 12 month low of $9.31 and a 12 month high of $17.24. The business has a 50-day moving average of $13.52 and a two-hundred day moving average of $11.63.

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 (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. Steelcase had a net margin of 3.84% and a return on equity of 14.49%. The firm had revenue of $779.00 million during the quarter, compared to analyst estimates of $759.90 million. During the same quarter last year, the business earned $0.16 EPS. The company's revenue was up 7.1% compared to the same quarter last year. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. Sell-side analysts forecast that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. Steelcase's payout ratio is presently 38.83%.

Analysts Set New Price Targets

A number of analysts have issued reports 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 lowered shares of Steelcase from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Steelcase has a consensus rating of "Hold" and an average target price 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.