Tidal Investments LLC decreased its stake in Steelcase Inc. (NYSE:SCS – Free Report) by 13.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,454 shares of the business services provider’s stock after selling 11,548 shares during the period. Tidal Investments LLC owned 0.06% of Steelcase worth $964,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCS. Innealta Capital LLC bought a new position in shares of Steelcase during the 2nd quarter worth $93,000. DekaBank Deutsche Girozentrale lifted its holdings in Steelcase by 8.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 12,017 shares of the business services provider’s stock valued at $153,000 after purchasing an additional 897 shares during the last quarter. Centiva Capital LP bought a new position in Steelcase during the third quarter worth about $181,000. Creative Planning increased its stake in shares of Steelcase by 8.7% in the third quarter. Creative Planning now owns 13,470 shares of the business services provider’s stock worth $182,000 after purchasing an additional 1,075 shares in the last quarter. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Steelcase in the second quarter valued at approximately $259,000. 92.42% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, VP Robert G. Krestakos sold 4,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $13.11, for a total transaction of $52,440.00. Following the completion of the transaction, the vice president now directly owns 119,481 shares in the company, valued at $1,566,395.91. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.96% of the stock is currently owned by company insiders.
Steelcase Stock Performance
Steelcase (NYSE:SCS – Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $794.90 million for the quarter, compared to the consensus estimate of $796.58 million. Steelcase had a net margin of 4.02% and a return on equity of 14.41%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. Research analysts forecast that Steelcase Inc. will post 1 EPS for the current fiscal year.
Steelcase Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Monday, December 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.25%. Steelcase’s payout ratio is currently 37.74%.
Analysts Set New Price Targets
Separately, Noble Financial initiated coverage on shares of Steelcase in a report on Wednesday, October 9th. They issued an “outperform” rating and a $16.00 price objective for the company.
Read Our Latest Stock Report on Steelcase
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.
Featured Stories
- Five stocks we like better than Steelcase
- Using the MarketBeat Stock Split Calculator
- Micron Stock Under $100: Seize the AI-Driven Upside
- How to Calculate Options Profits
- AI’s Next Big Winners: 3 Small-Cap Stocks to Watch in 2025
- Earnings Per Share Calculator: How to Calculate EPS
- SolarEdge Stock Climbs Back: Goldman Sachs Sees 40% Upside
Receive News & Ratings for Steelcase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steelcase and related companies with MarketBeat.com's FREE daily email newsletter.