The Swiss National Bank has reduced its holdings in Steelcase Inc. (NYSE:SCS) by 1.2% in the first quarter of 2025, selling 2,000 shares and retaining 164,100 shares valued at $1.8 million. The bank's stake represents approximately 0.14% of the company.
© Steelcase
Other institutional investors also adjusted positions, including US Bancorp DE, GAMMA Investing LLC, Virtus Fund Advisers LLC, Quarry LP, and Kapitalo Investimentos Ltda, reflecting broader market movements. Institutional and hedge fund ownership of Steelcase stands at 92.42%.
Steelcase's vice president, Robert G. Krestakos, sold 12,000 shares in July, reducing his ownership by 8.58% to 127,912 shares, worth approximately $1.36 million. Overall, company insiders hold 6.75% of the stock.
The company's shares opened at $16.4950, with a market capitalisation of $1.89 billion and a P/E ratio of 16.01. Steelcase reported Q2 earnings of $0.20 per share, exceeding expectations of $0.12, on revenue of $779 million, up 7.1% year-on-year. Net margin was 3.84% with a return on equity of 14.49%.
Steelcase recently paid a quarterly dividend of $0.10 per share, yielding 2.4% annually. Analysts have a consensus rating of "Hold" with a target price of $16.00, reflecting cautious optimism in light of recent earnings and market conditions.
Source: www.defenseworld.net
