Deutsche Bank AG Purchases 29,325 Shares of Steelcase Inc. (NYSE:SCS)

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Steelcase in the 4th quarter valued at about $36,000. Quarry LP increased its position in Steelcase by 162.6% in 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 acquired a new stake in Steelcase in the 4th quarter valued at about $134,000. Boothbay Fund Management LLC acquired a new stake in Steelcase in the 4th quarter valued at about $135,000. Finally, Mariner LLC bought a new position in shares of Steelcase in the 4th quarter valued at about $139,000. Institutional investors and hedge funds own 92.42% of the company's stock.

Steelcase Trading Up 0.7%

Shares of NYSE SCS traded up $0.07 during mid-day trading on Thursday, hitting $10.36. The company's stock had a trading volume of 471,419 shares, compared to its average volume of 651,016. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.57 and a quick ratio of 1.21. Steelcase Inc. has a one year low of $9.32 and a one year high of $14.74. The company's fifty day simple moving average is $10.29 and its 200-day simple moving average is $11.50.

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

Steelcase Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 7th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.86%. The ex-dividend date was Monday, April 7th. Steelcase's payout ratio is 39.60%.

Insider Buying and Selling

In related news, VP Robert G. Krestakos sold 6,000 shares of Steelcase stock in a transaction that occurred 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 transaction, the vice president now owns 139,912 shares of the company's stock, valued at $1,417,308.56. This trade represents a 4.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 12.96% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.