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 lowered its position in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 58.2% during the 1st quarter, according to its most recent disclosure 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 quarter. Trexquant Investment LP owned 0.09% of Steelcase worth $1,082,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SCS. US Bancorp DE boosted its position in shares of Steelcase by 4,509.8% in the first quarter. US Bancorp DE now owns 4,702 shares of the business services provider's stock worth $52,000 after purchasing an additional 4,600 shares during the period. GAMMA Investing LLC grew its holdings in Steelcase by 1,468.7% during the 1st quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider's stock valued at $63,000 after buying an additional 5,346 shares in the last quarter. Virtus Fund Advisers LLC grew its holdings in Steelcase by 228.9% during the 4th quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider's stock valued at $93,000 after buying an additional 5,493 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in shares of Steelcase during the 1st quarter valued at approximately $121,000. Finally, Virtus Advisers LLC bought a new position in shares of Steelcase during the 1st quarter valued at approximately $126,000. 92.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Steelcase

In related news, VP Robert G. Krestakos sold 12,000 shares of the firm's stock in a transaction 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 directly owned 127,912 shares in the company, valued at $1,359,704.56. This trade represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.75% of the stock is currently owned by corporate insiders.

Steelcase Price Performance

Shares of NYSE SCS traded down $0.20 during midday trading on Friday, reaching $16.81. 1,778,014 shares of the stock traded hands, compared to its average volume of 1,617,797. The stock has a market capitalization of $1.93 billion, a PE ratio of 16.32, a P/E/G ratio of 1.62 and a beta of 1.26. The company's 50 day moving average is $14.09 and its 200 day moving average is $11.79. Steelcase Inc. has a one year low of $9.31 and a one year high of $17.25. 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 (NYSE:SCS - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $779.00 million during the quarter, compared to the consensus estimate of $759.90 million. Steelcase had a return on equity of 14.49% and a net margin of 3.84%.Steelcase's revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. On average, equities research analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Announces Dividend

The business also recently declared 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 was Monday, July 7th. This represents a $0.40 dividend on an annualized basis and a yield of 2.4%. Steelcase's dividend payout ratio (DPR) is currently 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.