Harbor Capital Advisors Inc. Buys 1,601 Shares of Steelcase Inc. $SCS

Harbor Capital Advisors Inc. boosted its holdings in shares of Steelcase Inc. (NYSE:SCS) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,707 shares of the business services provider’s stock after acquiring an additional 1,601 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Steelcase were worth $237,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SCS. Ameriprise Financial Inc. boosted its position in Steelcase by 6.5% during the fourth quarter. Ameriprise Financial Inc. now owns 493,838 shares of the business services provider’s stock valued at $5,837,000 after purchasing an additional 30,125 shares in the last quarter. Deutsche Bank AG raised its stake in Steelcase by 57.0% in the fourth quarter. Deutsche Bank AG now owns 80,787 shares of the business services provider’s stock valued at $955,000 after buying an additional 29,325 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Steelcase by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,596 shares of the business services provider’s stock valued at $622,000 after buying an additional 1,741 shares during the last quarter. Millennium Management LLC raised its stake in 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 during the last quarter. Finally, ProShare Advisors LLC raised its stake in Steelcase by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 26,067 shares of the business services provider’s stock valued at $308,000 after buying an additional 8,589 shares during the last quarter. 92.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SCS shares. Noble Financial lowered Steelcase from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 5th. Wall Street Zen lowered Steelcase from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.00.

Steelcase Stock Performance

Shares of NYSE:SCS opened at $16.90 on Friday. 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 business’s 50 day moving average price is $14.70 and its 200-day moving average price is $11.96. The firm has a market capitalization of $1.94 billion, a PE ratio of 16.41, a P/E/G ratio of 1.62 and a beta of 1.26. Steelcase Inc. has a 1 year low of $9.31 and a 1 year high of $17.25.

Steelcase (NYSE:SCS) last issued its quarterly earnings results on Wednesday, June 25th. The business services provider reported $0.20 earnings per share (EPS) 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 analyst estimates of $759.90 million. Steelcase had a return on equity of 14.49% and a net margin of 3.84%.The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. Steelcase has set its Q2 2026 guidance at 0.360-0.400 EPS. As a group, equities research analysts expect that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 21st. Stockholders 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 dividend yield of 2.4%. Steelcase’s payout ratio is currently 38.83%.

Insider Activity

In other news, VP Robert G. Krestakos sold 12,000 shares of Steelcase 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 directly owned 127,912 shares of the company’s stock, valued at $1,359,704.56. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.75% of the stock is owned by corporate insiders.

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.