Steelcase Inc. $SCS Stock Position Raised by S.A. Mason LLC

S.A. Mason LLC increased its stake in Steelcase Inc. (NYSE:SCS) by 130.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 306,847 shares of the business services provider’s stock after purchasing an additional 173,534 shares during the quarter. Steelcase comprises about 2.3% of S.A. Mason LLC’s holdings, making the stock its 8th largest position. S.A. Mason LLC owned 0.27% of Steelcase worth $5,278,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake 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. MTM Investment Management LLC purchased a new stake in shares of Steelcase in the second quarter worth about $26,000. Jones Financial Companies Lllp boosted its position in shares of Steelcase by 3,634.2% in the first quarter. Jones Financial Companies Lllp now owns 2,950 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 2,871 shares during the period. EverSource Wealth Advisors LLC grew its stake in Steelcase by 1,279.8% during the second quarter. EverSource Wealth Advisors LLC now owns 3,546 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 3,289 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Steelcase during the 2nd quarter worth approximately $89,000. 92.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Steelcase Price Performance

Shares of NYSE:SCS opened at $16.11 on Tuesday. The company’s fifty day moving average price is $16.14 and its 200-day moving average price is $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 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.

Steelcase (NYSE:SCS) last posted its quarterly earnings data on Friday, June 2nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter. Steelcase had a net margin of 2.92% and a return on equity of 13.00%. The company had revenue of $724.80 million during the quarter. On average, equities research analysts anticipate that Steelcase Inc. will post 1 earnings per share for the current fiscal year.

Steelcase Announces Dividend

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

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.