Russell Investments Group Ltd. lessened its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,870 shares of the company’s stock after selling 2,322 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of La-Z-Boy worth $1,481,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in La-Z-Boy by 9.6% in the second quarter. BlackRock Inc. now owns 6,602,851 shares of the company’s stock valued at $202,048,000 after purchasing an additional 579,379 shares in the last quarter. LSV Asset Management raised its stake in La-Z-Boy by 101.4% in the second quarter. LSV Asset Management now owns 638,356 shares of the company’s stock valued at $19,533,000 after purchasing an additional 321,456 shares in the last quarter. Renaissance Technologies LLC raised its stake in La-Z-Boy by 729.1% in the second quarter. Renaissance Technologies LLC now owns 143,440 shares of the company’s stock valued at $4,389,000 after purchasing an additional 126,140 shares in the last quarter. Royce & Associates LP raised its stake in La-Z-Boy by 12.2% in the second quarter. Royce & Associates LP now owns 1,042,460 shares of the company’s stock valued at $31,899,000 after purchasing an additional 113,502 shares in the last quarter. Finally, Hammer Asset Management LLC acquired a new position in La-Z-Boy in the second quarter valued at about $2,683,000. 90.74% of the stock is owned by institutional investors.
LZB stock opened at $27.06 on Friday. The stock has a market capitalization of $1.30 billion, a P/E ratio of 13.98 and a beta of 1.01. La-Z-Boy Incorporated has a 52 week low of $26.70 and a 52 week high of $39.15.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Monday, December 10th will be paid a dividend of $0.13 per share. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.52 annualized dividend and a yield of 1.92%. La-Z-Boy’s payout ratio is presently 26.52%.
A number of research analysts recently commented on LZB shares. ValuEngine raised La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Stifel Nicolaus boosted their price target on La-Z-Boy from $33.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, August 23rd. Finally, Zacks Investment Research raised La-Z-Boy from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd.
In other La-Z-Boy news, insider John Douglas Collier sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $31.66, for a total transaction of $158,300.00. Following the completion of the transaction, the insider now owns 75,070 shares of the company’s stock, valued at $2,376,716.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.55% of the stock is currently owned by insiders.
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La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
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