Steelcase Inc. (NYSE:SCS) Short Interest Update

Key Points

• Steelcase Inc. experienced a 22.9% increase in short interest in August, bringing the total to 2,150,000 shares, which represents 2.0% of the company's total shares sold short.
• The company's most recent quarterly earnings showed an EPS of $0.20, surpassing the expected $0.12, with revenue of $779 million, indicating a 7.1% year-over-year growth.
• Steelcase's average stock rating is currently a "Hold", following downgrades from brokerages, while the consensus price target remains at $16.00.

Steelcase Inc. (NYSE:SCS - Get Free Report) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 2,150,000 shares, a growth of 22.9% from the August 15th total of 1,750,000 shares. Based on an average daily trading volume, of 1,890,000 shares, the short-interest ratio is presently 1.1 days. Approximately 2.0% of the company's stock are short sold. Approximately 2.0% of the company's stock are short sold. Based on an average daily trading volume, of 1,890,000 shares, the short-interest ratio is presently 1.1 days.

Insider Buying and Selling at Steelcase

In other news, VP Robert G. Krestakos sold 12,000 shares of the company's stock in a transaction dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Steelcase

Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc grew its holdings in Steelcase by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 96,212 shares of the business services provider's stock worth $1,003,000 after buying an additional 1,581 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Steelcase by 7.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 22,707 shares of the business services provider's stock worth $237,000 after buying an additional 1,601 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Steelcase by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,596 shares of the business services provider's stock worth $622,000 after buying an additional 1,741 shares in the last quarter. State of Wyoming grew its holdings in Steelcase by 9.3% in the 4th quarter. State of Wyoming now owns 20,668 shares of the business services provider's stock worth $244,000 after buying an additional 1,762 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in Steelcase by 7.9% in the 1st quarter. Diversified Trust Co now owns 34,300 shares of the business services provider's stock worth $376,000 after buying an additional 2,499 shares in the last quarter. 92.42% of the stock is owned by institutional investors.

Steelcase Stock Up 0.1%

NYSE SCS traded up $0.02 on Monday, hitting $16.90. 1,864,573 shares of the stock traded hands, compared to its average volume of 1,617,333. The stock has a 50-day moving average of $14.70 and a 200 day moving average of $11.97. Steelcase has a twelve month low of $9.31 and a twelve month high of $17.25. The company has a market capitalization of $1.94 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.61 and a beta of 1.26. 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 announced its quarterly earnings data on Wednesday, June 25th. The business services provider reported $0.20 earnings per share (EPS) 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 firm had revenue of $779.00 million for the quarter, compared to analysts' expectations of $759.90 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. Steelcase'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, analysts expect that Steelcase will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The business also recently announced 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. 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 38.83%.

Wall Street Analyst Weigh In

Several research firms recently commented on SCS. Noble Financial cut Steelcase from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Wall Street Zen cut Steelcase from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and an average target price 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.