Charles Schwab Investment Management Inc. Cuts Stake in Steelcase Inc. $SCS

Charles Schwab Investment Management Inc. reduced its holdings in shares of Steelcase Inc. (NYSE:SCS) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,992,398 shares of the business services provider’s stock after selling 82,676 shares during the period. Charles Schwab Investment Management Inc. owned about 1.74% of Steelcase worth $21,837,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SCS. LPL Financial LLC purchased a new stake in Steelcase during the 4th quarter worth approximately $191,000. Renaissance Technologies LLC increased its stake in Steelcase by 9.2% during the 4th quarter. Renaissance Technologies LLC now owns 224,700 shares of the business services provider’s stock worth $2,656,000 after buying an additional 19,000 shares during the period. Barclays PLC increased its stake in Steelcase by 15.7% during the 4th quarter. Barclays PLC now owns 205,985 shares of the business services provider’s stock worth $2,435,000 after buying an additional 27,983 shares during the period. Mariner LLC purchased a new stake in Steelcase during the 4th quarter worth approximately $139,000. Finally, XTX Topco Ltd grew its holdings in Steelcase by 19.4% during the 4th quarter. XTX Topco Ltd now owns 25,667 shares of the business services provider’s stock worth $303,000 after acquiring an additional 4,174 shares in the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Robert G. Krestakos sold 12,000 shares of the company’s stock in a transaction 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 transaction, the vice president owned 127,912 shares in the company, valued at approximately $1,359,704.56. This represents a 8.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.75% of the company’s stock.

Steelcase Trading Down 0.5%

Shares of Steelcase stock opened at $16.1050 on Friday. The company has a fifty day simple moving average of $12.13 and a 200-day simple moving average of $11.27. Steelcase Inc. has a 12-month low of $9.31 and a 12-month high of $17.13. 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 stock has a market cap of $1.85 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.54 and a beta of 1.18.

Steelcase (NYSE:SCS) last issued its earnings results 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 net margin of 3.84% and a return on equity of 14.49%. The business had revenue of $779.00 million during the quarter, compared to analysts’ expectations of $759.90 million. During the same quarter in the prior year, the business posted $0.16 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. On average, equities analysts forecast that Steelcase Inc. will post 1 EPS 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 $0.10 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.40 annualized dividend and a dividend yield of 2.5%. Steelcase’s dividend payout ratio is presently 38.83%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SCS shares. Noble Financial cut shares of Steelcase from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Wall Street Zen cut shares of Steelcase from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, 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.