Steelcase Inc. (NYSE:SCS) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. lifted its stake in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 493,838 shares of the business services provider's stock after acquiring an additional 30,125 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.43% of Steelcase worth $5,837,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Steelcase during the fourth quarter valued at approximately $36,000. Quarry LP increased its position in shares of Steelcase by 162.6% during the 4th quarter. Quarry LP now owns 8,344 shares of the business services provider's stock valued at $99,000 after purchasing an additional 5,166 shares during the last quarter. Olympiad Research LP purchased a new stake in shares of Steelcase in the fourth quarter valued at $134,000. Boothbay Fund Management LLC bought a new stake in Steelcase in the fourth quarter worth about $135,000. Finally, Mariner LLC purchased a new position in Steelcase during the 4th quarter valued at $139,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Steelcase news, VP Robert G. Krestakos sold 6,000 shares of Steelcase stock in a transaction on Monday, April 14th. The shares were sold at an average price of $10.13, for a total transaction of $60,780.00. Following the sale, the vice president now owns 139,912 shares of the company's stock, valued at $1,417,308.56. The trade was a 4.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.96% of the company's stock.

Steelcase Stock Performance

Shares of NYSE:SCS traded up $0.43 on Tuesday, hitting $10.52. 897,130 shares of the company were exchanged, compared to its average volume of 651,207. The firm has a market capitalization of $1.21 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. The stock's 50 day moving average price is $10.30 and its 200 day moving average price is $11.52. Steelcase Inc. has a 1-year low of $9.32 and a 1-year high of $14.74.

Steelcase (NYSE:SCS - Get Free Report) last released its earnings results on Wednesday, March 26th. The business services provider reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm had revenue of $788.00 million during the quarter, compared to the consensus estimate of $790.90 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company's revenue was up 1.7% compared to the same quarter last year. Sell-side analysts predict that Steelcase Inc. will post 1 EPS for the current year.

Steelcase Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were given a dividend of $0.10 per share. The ex-dividend date was Monday, April 7th. This represents a $0.40 annualized dividend and a yield of 3.80%. Steelcase's dividend payout ratio is presently 39.60%.

Wall Street Analyst Weigh In

Separately, Sidoti upgraded Steelcase to a "hold" rating in a report on Friday, March 28th.

Steelcase 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.