Deutsche Bank AG Raises Stock Position in Steelcase Inc. (NYSE:SCS)

Deutsche Bank AG raised its stake in shares of Steelcase Inc. (NYSE:SCS - Free Report) by 57.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 80,787 shares of the business services provider's stock after buying an additional 29,325 shares during the quarter. Deutsche Bank AG owned about 0.07% of Steelcase worth $955,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SCS. R Squared Ltd bought a new position in shares of Steelcase during the fourth quarter valued at approximately $36,000. Quarry LP boosted its position in 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 acquiring an additional 5,166 shares in the last quarter. Olympiad Research LP bought a new stake in Steelcase during the 4th quarter valued at $134,000. Boothbay Fund Management LLC bought a new stake in Steelcase during the 4th quarter valued at $135,000. Finally, Mariner LLC bought a new stake in Steelcase during the 4th quarter valued at $139,000. Hedge funds and other institutional investors own 92.42% of the company's stock.

Wall Street Analysts Forecast Growth

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

Steelcase Stock Down 0.3%

NYSE SCS traded down $0.03 during midday trading on Friday, hitting $10.33. 754,054 shares of the company traded hands, compared to its average volume of 650,687. Steelcase Inc. has a 52 week low of $9.32 and a 52 week high of $14.74. The company's 50-day simple moving average is $10.28 and its 200-day simple moving average is $11.44. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. The company has a market cap of $1.18 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15.

Steelcase (NYSE:SCS - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, beating 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 business had revenue of $788.00 million during the quarter, compared to analyst estimates of $790.90 million. During the same quarter last year, the business posted $0.23 EPS. The company's revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Steelcase Inc. will post 1 earnings per share for the current year.

Steelcase Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 7th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Monday, April 7th. Steelcase's dividend payout ratio (DPR) is 39.60%.

Insiders Place Their Bets

In other Steelcase news, VP Robert G. Krestakos sold 6,000 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $10.13, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.96% of the company's stock.

About Steelcase

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.