Strs Ohio Acquires New Holdings 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 acquired a new position in shares of Steelcase Inc. (NYSE:SCS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 51,300 shares of the business services provider's stock, valued at approximately $562,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp grew its stake in shares of Steelcase by 3,634.2% during the 1st quarter. Jones Financial Companies Lllp now owns 2,950 shares of the business services provider's stock worth $32,000 after acquiring an additional 2,871 shares in the last quarter. US Bancorp DE lifted its position in Steelcase by 4,509.8% during the 1st 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of Steelcase by 1,468.7% during the 1st quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider's stock worth $63,000 after buying an additional 5,346 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in Steelcase during the first quarter worth about $121,000. Finally, Virtus Advisers LLC acquired a new position in Steelcase during the first quarter valued at approximately $126,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SCS shares. Wall Street Zen cut Steelcase from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Noble Financial downgraded 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 data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $16.00.

Insider Buying and Selling at Steelcase

In related news, VP Robert G. Krestakos sold 12,000 shares of the company's stock in a transaction that occurred 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 directly owned 127,912 shares in the company, valued at $1,359,704.56. This represents a 8.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.75% of the company's stock.

Steelcase Stock Performance

NYSE SCS traded down $0.08 during trading on Friday, reaching $16.90. The company's stock had a trading volume of 3,188,630 shares, compared to its average volume of 1,617,333. 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 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. Steelcase Inc. has a 12 month low of $9.31 and a 12 month high of $17.25. The firm has a 50 day moving average price of $14.70 and a 200 day moving average price of $11.97.

Steelcase (NYSE:SCS - Get Free Report) last posted its quarterly earnings data 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. 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 the consensus estimate of $759.90 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. As a group, equities analysts anticipate that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Dividend Announcement

The company also recently declared 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, July 7th. Steelcase's dividend payout ratio is 38.83%.

Steelcase 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.