Strs Ohio Makes New $562,000 Investment in Steelcase Inc. $SCS

Key Points

• Strs Ohio has invested approximately $562,000 in Steelcase Inc., acquiring 51,300 shares during the first quarter.
• Steelcase reported earnings of $0.20 per share for the latest quarter, exceeding estimates of $0.12, alongside a revenue increase of 7.1% year-over-year.
• The company announced a quarterly dividend of $0.10 per share, representing a 2.4% yield and a payout ratio of approximately 38.83%.

Strs Ohio purchased a new position in shares of Steelcase Inc. (NYSE:SCS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 51,300 shares of the business services provider's stock, valued at approximately $562,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. lifted its position in Steelcase by 54.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 102,699 shares of the business services provider's stock worth $1,126,000 after buying an additional 36,273 shares in the last quarter. Millennium Management LLC lifted its position in Steelcase by 93.6% during the 4th quarter. Millennium Management LLC now owns 694,625 shares of the business services provider's stock worth $8,210,000 after buying an additional 335,889 shares in the last quarter. Deutsche Bank AG lifted its position in Steelcase by 57.0% during the 4th quarter. Deutsche Bank AG now owns 80,787 shares of the business services provider's stock worth $955,000 after buying an additional 29,325 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Steelcase by 42.0% in the 1st quarter. SG Americas Securities LLC now owns 45,528 shares of the business services provider's stock valued at $499,000 after purchasing an additional 13,476 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Steelcase by 40.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 556,520 shares of the business services provider's stock valued at $6,099,000 after purchasing an additional 160,030 shares during the period. 92.42% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Robert G. Krestakos sold 12,000 shares of the firm's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $10.63, for a total transaction of $127,560.00. Following the completion of the transaction, the vice president owned 127,912 shares of the company's stock, valued at approximately $1,359,704.56. This trade represents 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 accessible through the SEC website. Insiders own 6.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Steelcase from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Noble Financial cut shares of Steelcase from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $16.00.

Steelcase Price Performance

SCS traded up $0.03 on Tuesday, reaching $16.93. The stock had a trading volume of 601,663 shares, compared to its average volume of 1,165,734. Steelcase Inc. has a fifty-two week low of $9.31 and a fifty-two week high of $17.25. The firm has a 50-day moving average of $14.83 and a 200-day moving average of $12.00. 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 company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.61 and a beta of 1.26.

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, beating the consensus estimate of $0.12 by $0.08. The firm had revenue of $779.00 million during the quarter, compared to the consensus estimate of $759.90 million. Steelcase had a net margin of 3.84% and a return on equity of 14.49%. The company's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last 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, sell-side analysts anticipate that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were paid 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 2.4%. Steelcase's dividend payout ratio (DPR) is presently 38.83%.

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.