Versor Investments LP Acquires Shares of 70,038 Steelcase Inc. $SCS

Key Points

• Versor Investments LP invested approximately $768,000 in Steelcase Inc. during the first quarter, acquiring 70,038 shares, which represents about 0.06% of the company's stock.
• Several institutional investors, including LPL Financial LLC and Renaissance Technologies LLC, have also increased their stakes in Steelcase, indicating growing interest among hedge funds.
• Steelcase recently declared a quarterly dividend of $0.10 per share, with a total annualized dividend yield of 2.5%.

Versor Investments LP purchased a new stake in Steelcase Inc. (NYSE:SCS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 70,038 shares of the business services provider's stock, valued at approximately $768,000. Versor Investments LP owned 0.06% of Steelcase as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE raised its position in Steelcase by 4,509.8% in the 1st quarter. US Bancorp DE now owns 4,702 shares of the business services provider's stock valued at $52,000 after buying an additional 4,600 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 valued at $63,000 after buying an additional 5,346 shares in the last quarter. Virtus Fund Advisers LLC raised its holdings in shares of 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. Quarry LP raised its holdings in shares of Steelcase by 162.6% during the 4th quarter. Quarry LP now owns 8,344 shares of the business services provider's stock valued at $99,000 after buying an additional 5,166 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Steelcase during the 1st quarter valued at about $121,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SCS. Wall Street Zen cut Steelcase from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Noble Financial lowered Steelcase from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Steelcase has an average 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 Steelcase stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $10.63, for a total transaction of $127,560.00. Following the sale, the vice president directly owned 127,912 shares in the company, valued at $1,359,704.56. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.75% of the stock is owned by corporate insiders.

Steelcase Trading Down 0.5%

Shares of SCS stock traded down $0.0750 during trading hours on Thursday, reaching $16.1050. The company's stock had a trading volume of 2,726,859 shares, compared to its average volume of 3,215,498. The stock has a market capitalization of $1.85 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.54 and a beta of 1.18. Steelcase Inc. has a one year low of $9.31 and a one year high of $17.13. The firm's fifty day simple moving average is $12.13 and its 200 day simple moving average is $11.27. The company has a current ratio of 1.65, a quick ratio of 1.15 and a debt-to-equity ratio of 0.46.

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 for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $759.90 million. During the same period in the previous year, the company posted $0.16 earnings per share. The firm'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. Equities research analysts expect that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were given a dividend of $0.10 per share. The ex-dividend date was Monday, July 7th. This represents a $0.40 annualized dividend and a dividend yield of 2.5%. Steelcase's payout ratio 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.