Vanguard Group Inc. Increases Holdings in Steelcase Inc. $SCS

Vanguard Group Inc. increased its stake in shares of Steelcase Inc. (NYSE:SCS) by 0.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,406,316 shares of the business services provider’s stock after buying an additional 65,179 shares during the quarter. Vanguard Group Inc. owned about 9.08% of Steelcase worth $114,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Steelcase by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,425,529 shares of the business services provider’s stock worth $64,129,000 after acquiring an additional 47,748 shares during the last quarter. Fifth Third Bancorp increased its stake in Steelcase by 6.2% during the first quarter. Fifth Third Bancorp now owns 3,802,658 shares of the business services provider’s stock worth $41,677,000 after acquiring an additional 223,541 shares during the last quarter. Victory Capital Management Inc. increased its stake in Steelcase by 208.4% during the first quarter. Victory Capital Management Inc. now owns 1,413,845 shares of the business services provider’s stock worth $15,496,000 after acquiring an additional 955,431 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in Steelcase by 2.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,081,354 shares of the business services provider’s stock worth $12,782,000 after acquiring an additional 28,610 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Steelcase during the first quarter worth $11,642,000. Institutional investors and hedge funds own 92.42% of the company’s stock.

Steelcase Stock Down 0.5%

Shares of NYSE SCS opened at $16.1050 on Friday. Steelcase Inc. has a 1 year low of $9.31 and a 1 year high of $17.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.65 and a quick ratio of 1.15. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.54 and a beta of 1.18. The business has a 50-day moving average of $12.13 and a two-hundred day moving average of $11.27.

Steelcase (NYSE:SCS) last posted its 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 business had revenue of $779.00 million during the quarter, compared to the consensus estimate of $759.90 million. During the same period in the previous year, the business earned $0.16 EPS. The business’s quarterly revenue 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, analysts forecast that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, July 7th were paid 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 yield of 2.5%. Steelcase’s dividend payout ratio is currently 38.83%.

Insider Buying and Selling

In other Steelcase 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 transaction of $127,560.00. Following the completion of the sale, the vice president directly owned 127,912 shares of the company’s stock, valued at $1,359,704.56. This represents a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. 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 equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Steelcase currently has a consensus rating of “Hold” and an average target price of $16.00.

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.