Deutsche Bank AG Cuts Position in Steelcase Inc. $SCS

Deutsche Bank AG cut its stake in Steelcase Inc. (NYSE:SCS) by 8.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,572 shares of the business services provider’s stock after selling 7,215 shares during the quarter. Deutsche Bank AG owned about 0.06% of Steelcase worth $806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE increased its holdings in shares of 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 acquiring an additional 4,600 shares during the period. GAMMA Investing LLC increased its holdings in shares of Steelcase by 1,468.7% in the 1st quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider’s stock valued at $63,000 after acquiring an additional 5,346 shares during the period. Virtus Fund Advisers LLC increased its holdings in shares of Steelcase by 228.9% in the 4th quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider’s stock valued at $93,000 after acquiring an additional 5,493 shares during the period. Quarry LP increased its holdings in shares of Steelcase by 162.6% in the 4th quarter. Quarry LP now owns 8,344 shares of the business services provider’s stock valued at $99,000 after acquiring an additional 5,166 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Steelcase in the 1st quarter valued at $121,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in 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 report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Steelcase currently has an average rating of “Hold” and a consensus price target of $16.00.

Steelcase Stock Down 0.6%

Steelcase stock opened at $16.3980 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.65. The business’s 50-day simple moving average is $12.38 and its two-hundred day simple moving average is $11.34. The company has a market cap of $1.88 billion, a PE ratio of 15.92, a PEG 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.

Steelcase (NYSE:SCS) last posted 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. The business had revenue of $779.00 million for 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 company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 EPS. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. Equities analysts anticipate that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The company also recently declared 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. This represents a $0.40 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, July 7th. Steelcase’s payout ratio is presently 38.83%.

Insiders Place Their Bets

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

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.