Versor Investments LP Takes $768,000 Position in 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) in the first quarter, according to the company in its most recent disclosure 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 approximately 0.06% of Steelcase as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. American Century Companies Inc. raised its stake in Steelcase by 7.0% in the first quarter. American Century Companies Inc. now owns 3,235,986 shares of the business services provider's stock valued at $35,466,000 after purchasing an additional 211,158 shares in the last quarter. Nuveen LLC acquired a new position in Steelcase in the first quarter valued at about $2,282,000. Entropy Technologies LP acquired a new position in Steelcase in the first quarter valued at about $173,000. Vanguard Group Inc. raised its stake in Steelcase by 0.6% in the first quarter. Vanguard Group Inc. now owns 10,406,316 shares of the business services provider's stock valued at $114,053,000 after purchasing an additional 65,179 shares in the last quarter. Finally, US Bancorp DE raised its stake in Steelcase by 4,509.8% in the first quarter. US Bancorp DE now owns 4,702 shares of the business services provider's stock valued at $52,000 after purchasing an additional 4,600 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Insider Activity

In other news, VP Robert G. Krestakos sold 12,000 shares of the company's stock in a transaction that occurred 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 transaction, the vice president owned 127,912 shares of the company's stock, valued at $1,359,704.56. This represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 6.75% of the stock is owned by corporate insiders.

Steelcase Price Performance

NYSE SCS traded up $0.3950 during trading on Friday, hitting $16.4950. 2,236,501 shares of the company's stock were exchanged, compared to its average volume of 3,408,887. 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 cap of $1.89 billion, a PE ratio of 16.01, a P/E/G ratio of 1.57 and a beta of 1.18. Steelcase Inc. has a fifty-two week low of $9.31 and a fifty-two week high of $17.13. The stock's 50 day moving average price is $12.26 and its two-hundred day moving average price is $11.30.

Steelcase (NYSE:SCS - Get Free Report) last issued its earnings results on Wednesday, June 25th. The business services provider reported $0.20 EPS for the quarter, topping 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 return on equity of 14.49% and a net margin of 3.84%.The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. Research analysts expect that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were paid a $0.10 dividend. 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 is currently 38.83%.

Analysts Set New Price Targets

A number of research firms recently commented on SCS. Wall Street Zen downgraded 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 research note on Tuesday, August 5th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Steelcase has an average rating of "Hold" and an average price target of $16.00.

Steelcase Company 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.