Northern Trust Corp Trims Holdings in Steelcase Inc. $SCS

Northern Trust Corp decreased its stake in shares of Steelcase Inc. (NYSE:SCS) by 3.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 977,297 shares of the business services provider’s stock after selling 33,847 shares during the quarter. Northern Trust Corp owned about 0.85% of Steelcase worth $10,711,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. US Bancorp DE increased its stake in Steelcase by 4,509.8% during the first quarter. US Bancorp DE now owns 4,702 shares of the business services provider’s stock worth $52,000 after acquiring an additional 4,600 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Steelcase by 1,468.7% in the first quarter. GAMMA Investing LLC now owns 5,710 shares of the business services provider’s stock valued at $63,000 after buying an additional 5,346 shares in the last quarter. Virtus Fund Advisers LLC grew its stake in shares of Steelcase by 228.9% in the fourth quarter. Virtus Fund Advisers LLC now owns 7,893 shares of the business services provider’s stock valued at $93,000 after buying an additional 5,493 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in Steelcase during the 1st quarter worth $121,000. Finally, Mariner LLC acquired a new position in Steelcase during the 4th quarter worth $139,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Transactions at Steelcase

In related 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 value 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. This represents a 8.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.75% of the company’s stock.

Steelcase Price Performance

SCS stock opened at $17.06 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 quick ratio of 1.15 and a current ratio of 1.65. The stock’s 50 day moving average price is $13.39 and its 200 day moving average price is $11.60. The firm has a market cap of $1.96 billion, a P/E ratio of 16.56, a PEG ratio of 1.60 and a beta of 1.26.

Steelcase (NYSE:SCS) last posted its earnings results on Wednesday, June 25th. The business services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $759.90 million. During the same quarter in the prior year, the company earned $0.16 EPS. Steelcase’s 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, sell-side analysts expect that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.40 dividend on an annualized basis and a yield of 2.3%. Steelcase’s dividend payout ratio is presently 38.83%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Noble Financial downgraded Steelcase from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Wall Street Zen downgraded Steelcase from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.00.

Steelcase 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.