Virtus Investment Advisers Inc. Buys 26,256 Shares of Steelcase Inc. (NYSE:SCS)

Virtus Investment Advisers Inc. raised its position in Steelcase Inc. (NYSE:SCS - Free Report) by 35.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 100,856 shares of the business services provider's stock after acquiring an additional 26,256 shares during the period. Steelcase makes up about 0.9% of Virtus Investment Advisers Inc.'s holdings, making the stock its 18th largest position. Virtus Investment Advisers Inc. owned 0.09% of Steelcase worth $1,192,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SCS. Dimensional Fund Advisors LP lifted its holdings in Steelcase by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,425,529 shares of the business services provider's stock worth $64,129,000 after acquiring an additional 47,748 shares during the period. Pzena Investment Management LLC increased its position in shares of Steelcase by 2.6% during the 4th quarter. Pzena Investment Management LLC now owns 5,373,342 shares of the business services provider's stock valued at $63,513,000 after purchasing an additional 133,893 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Steelcase by 7.4% during the 4th quarter. Fifth Third Bancorp now owns 3,579,117 shares of the business services provider's stock worth $42,305,000 after purchasing an additional 245,981 shares during the period. American Century Companies Inc. boosted its holdings in shares of Steelcase by 10.0% in the 4th quarter. American Century Companies Inc. now owns 3,024,828 shares of the business services provider's stock worth $35,753,000 after buying an additional 275,369 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Steelcase by 2.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,081,354 shares of the business services provider's stock worth $12,782,000 after buying an additional 28,610 shares during the last quarter. Institutional investors own 92.42% of the company's stock.

Insider Buying and Selling

In other news, VP Robert G. Krestakos sold 6,000 shares of the business's 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 completion of the transaction, the vice president now directly owns 139,912 shares in the company, valued at $1,417,308.56. The trade was a 4.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.96% of the stock is currently owned by insiders.

Steelcase Stock Performance

SCS stock traded down $0.06 during midday trading on Friday, reaching $10.10. 533,025 shares of the company's stock traded hands, compared to its average volume of 648,473. The firm has a market capitalization of $1.16 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15. The company has a 50-day moving average price of $10.34 and a two-hundred day moving average price of $11.57. Steelcase Inc. has a 52 week low of $9.32 and a 52 week high of $14.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57.

Steelcase (NYSE:SCS - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. The business had revenue of $788.00 million for the quarter, compared to analysts' expectations of $790.90 million. Steelcase had a return on equity of 14.20% and a net margin of 3.63%. The firm's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. As a group, equities analysts anticipate that Steelcase Inc. will post 1 EPS for the current 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. The ex-dividend date of this dividend was Monday, April 7th. This represents a $0.40 annualized dividend and a yield of 3.96%. Steelcase's dividend payout ratio is currently 39.60%.

Wall Street Analyst Weigh In

Separately, Sidoti upgraded shares of 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.