Steelcase Inc. $SCS Holdings Lifted by S.A. Mason LLC

S.A. Mason LLC lifted its holdings in Steelcase Inc. (NYSE:SCS) by 130.2% in the third quarter, HoldingsChannel reports. The fund owned 306,847 shares of the business services provider’s stock after buying an additional 173,534 shares during the period. Steelcase makes up 2.3% of S.A. Mason LLC’s investment portfolio, making the stock its 8th biggest position. S.A. Mason LLC’s holdings in Steelcase were worth $5,278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SCS. GAMMA Investing LLC raised its position in Steelcase by 222.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,639 shares of the business services provider’s stock worth $28,000 after purchasing an additional 1,130 shares during the period. Legal & General Group Plc grew its stake in shares of Steelcase by 1.7% during the second quarter. Legal & General Group Plc now owns 96,212 shares of the business services provider’s stock valued at $1,003,000 after buying an additional 1,581 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Steelcase by 7.6% in the second quarter. Harbor Capital Advisors Inc. now owns 22,707 shares of the business services provider’s stock worth $237,000 after buying an additional 1,601 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Steelcase by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,999 shares of the business services provider’s stock worth $603,000 after buying an additional 2,403 shares during the period. Finally, MTM Investment Management LLC purchased a new stake in Steelcase during the 2nd quarter valued at about $26,000. Institutional investors own 92.42% of the company’s stock.

Steelcase Trading Down 0.1%

SCS opened at $16.11 on Tuesday. Steelcase Inc. has a one year low of $9.31 and a one year high of $17.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.66 and a quick ratio of 1.18. The business has a 50 day simple moving average of $16.14 and a two-hundred day simple moving average of $14.72. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.47 and a beta of 1.26.

Steelcase (NYSE:SCS) last posted its earnings results on Friday, June 2nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter. The firm had revenue of $724.80 million for the quarter. Steelcase had a return on equity of 13.00% and a net margin of 2.92%. Analysts predict that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Monday, October 6th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, October 6th. Steelcase’s payout ratio is presently 38.83%.

Wall Street Analyst Weigh In

SCS has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steelcase in a research note on Friday, October 31st. Zacks Research downgraded shares of Steelcase from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Steelcase has an average rating of “Hold”.

Steelcase Profile

Steelcase, Inc is a global leader in the design and manufacture of workspace furniture and architectural solutions. The company develops a wide range of products including adjustable desks, ergonomic seating, collaborative furniture, movable walls, and integrated technology offerings aimed at enhancing productivity and well-being in office, education, and healthcare environments. Steelcase combines research on human behavior, work patterns, and technology trends to inform the development of its solutions, positioning itself as a partner for organizations seeking to optimize their physical spaces.

Through its portfolio of brands—such as Steelcase, Coalesse, and Steelcase Education—the company addresses the needs of corporate clients, learning institutions, and healthcare providers.