Russell Investments Group Ltd. Has $797,000 Stake in Steelcase Inc. $SCS

Russell Investments Group Ltd. trimmed its holdings in Steelcase Inc. (NYSE:SCS) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,690 shares of the business services provider’s stock after selling 3,153 shares during the period. Russell Investments Group Ltd. owned 0.06% of Steelcase worth $797,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SCS. Pacer Advisors Inc. acquired a new stake in shares of Steelcase in the first quarter valued at approximately $11,642,000. Victory Capital Management Inc. raised its position in shares of Steelcase by 208.4% in the first quarter. Victory Capital Management Inc. now owns 1,413,845 shares of the business services provider’s stock valued at $15,496,000 after buying an additional 955,431 shares in the last quarter. Millennium Management LLC raised its position in shares of Steelcase by 93.6% in the fourth quarter. Millennium Management LLC now owns 694,625 shares of the business services provider’s stock valued at $8,210,000 after buying an additional 335,889 shares in the last quarter. Moran Wealth Management LLC acquired a new stake in shares of Steelcase in the first quarter valued at approximately $2,910,000. Finally, Fifth Third Bancorp raised its position 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 valued at $41,677,000 after purchasing an additional 223,541 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on SCS. Noble Financial downgraded shares of Steelcase from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded shares of Steelcase from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Steelcase presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Insider Buying and Selling at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 12,000 shares of the business’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $10.63, for a total transaction of $127,560.00. Following the sale, the vice president owned 127,912 shares of the company’s stock, valued at approximately $1,359,704.56. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.75% of the company’s stock.

Steelcase Stock Performance

NYSE SCS opened at $16.76 on Friday. The firm’s fifty day moving average price is $12.90 and its two-hundred day moving average price is $11.48. The stock has a market cap of $1.92 billion, a PE ratio of 16.27, a PEG ratio of 1.59 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 company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.65.

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, topping analysts’ consensus estimates of $0.12 by $0.08. The firm had revenue of $779.00 million for the quarter, compared to analysts’ expectations of $759.90 million. Steelcase had a net margin of 3.84% and a return on equity of 14.49%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. On average, equities analysts expect that Steelcase Inc. will post 1 EPS for the current fiscal year.

Steelcase Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, July 7th. Steelcase’s payout ratio is presently 38.83%.

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.