Trexquant Investment LP Sells 137,633 Shares of Steelcase Inc. $SCS

Key Points

• Trexquant Investment LP significantly reduced its stake in Steelcase Inc. by 58.2%, selling 137,633 shares and holding 98,733 shares worth approximately $1,082,000 after the sale.
• Steelcase reported a quarterly earnings per share (EPS) of $0.20, exceeding analysts' expectations of $0.12, with revenues of $779 million, marking a 7.1% year-over-year increase.
• Institutional ownership of Steelcase stands at 92.42%, with recent modifications in holdings from several hedge funds and two analysts recently downgrading the stock to a "hold" rating.

Trexquant Investment LP decreased its stake in Steelcase Inc. (NYSE:SCS - Free Report) by 58.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,733 shares of the business services provider's stock after selling 137,633 shares during the period. Trexquant Investment LP owned 0.09% of Steelcase worth $1,082,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Avantax Advisory Services Inc. grew its holdings in Steelcase by 54.6% during the first quarter. Avantax Advisory Services Inc. now owns 102,699 shares of the business services provider's stock worth $1,126,000 after purchasing an additional 36,273 shares during the period. Northern Trust Corp grew its holdings in Steelcase by 6.1% during the fourth quarter. Northern Trust Corp now owns 1,011,144 shares of the business services provider's stock worth $11,952,000 after purchasing an additional 58,079 shares during the period. Millennium Management LLC grew its holdings 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. Deutsche Bank AG grew its holdings in Steelcase by 57.0% during the fourth quarter. Deutsche Bank AG now owns 80,787 shares of the business services provider's stock worth $955,000 after purchasing an additional 29,325 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Steelcase by 42.0% during the first quarter. SG Americas Securities LLC now owns 45,528 shares of the business services provider's stock worth $499,000 after purchasing an additional 13,476 shares during the period. Institutional investors own 92.42% of the company's stock.

Steelcase Trading Up 0.4%

Shares of NYSE:SCS opened at $17.12 on Friday. Steelcase Inc. has a 12-month low of $9.31 and a 12-month high of $17.24. The stock has a market cap of $1.96 billion, a PE ratio of 16.62, a P/E/G ratio of 1.63 and a beta of 1.26. The business has a 50 day moving average of $13.52 and a 200-day moving average of $11.63. The company has a quick ratio of 1.15, a current ratio of 1.65 and a debt-to-equity ratio of 0.46.

Steelcase (NYSE:SCS - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. Steelcase had a return on equity of 14.49% and a net margin of 3.84%.The company had revenue of $779.00 million during the quarter, compared to analysts' expectations of $759.90 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The business's revenue was up 7.1% on a year-over-year basis. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. As a group, equities research analysts forecast that Steelcase Inc. will post 1 earnings per share 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 given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, July 7th. Steelcase's payout ratio is presently 38.83%.

Insider Buying and Selling at Steelcase

In other news, VP Robert G. Krestakos sold 12,000 shares of Steelcase stock in a transaction that occurred on Friday, July 11th. The shares were 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 in the company, valued at approximately $1,359,704.56. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SCS shares. Wall Street Zen cut Steelcase from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Noble Financial cut 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.com, the stock presently has an average rating of "Hold" and an average target price of $16.00.

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.

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