Steelcase Inc. (NYSE:SCS) Holdings Raised by Ameriprise Financial Inc.

Ameriprise Financial Inc. boosted its position in Steelcase Inc. (NYSE:SCS - Free Report) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 0.43% of Steelcase worth $5,837,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SCS. R Squared Ltd acquired a new stake in Steelcase during the fourth quarter worth about $36,000. Quarry LP grew its holdings 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 worth $99,000 after purchasing an additional 5,166 shares during the period. Olympiad Research LP purchased a new stake in shares of Steelcase during the 4th quarter worth about $134,000. Boothbay Fund Management LLC acquired a new stake in Steelcase during the 4th quarter worth approximately $135,000. Finally, Mariner LLC purchased a new position in Steelcase in the fourth quarter valued at approximately $139,000. Institutional investors and hedge funds own 92.42% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Sidoti raised shares of Steelcase to a "hold" rating in a research report on Friday, March 28th.

Insider Activity

In related news, VP Robert G. Krestakos sold 6,000 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $10.13, for a total value of $60,780.00. Following the sale, the vice president now directly owns 139,912 shares of the company's stock, valued at $1,417,308.56. This represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.96% of the company's stock.

Steelcase Stock Up 0.7%

NYSE:SCS traded up $0.07 during mid-day trading on Thursday, hitting $10.36. The company had a trading volume of 471,419 shares, compared to its average volume of 650,599. The business has a fifty day simple moving average of $10.28 and a 200-day simple moving average of $11.48. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.25 and a beta of 1.15. Steelcase Inc. has a 1 year low of $9.32 and a 1 year high of $14.74. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48.

Steelcase (NYSE:SCS - Get Free Report) last posted its earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.06. The business had revenue of $788.00 million during the quarter, compared to analyst estimates of $790.90 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. Equities analysts forecast 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, April 21st. Shareholders of record on Monday, April 7th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.40 dividend on an annualized basis and a yield of 3.86%. Steelcase's payout ratio is currently 39.60%.

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.