Algert Global LLC Raises Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Algert Global LLC lifted its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 657.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 94,360 shares of the company’s stock after acquiring an additional 81,900 shares during the period. Algert Global LLC owned approximately 0.22% of La-Z-Boy worth $3,518,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LZB. Pacer Advisors Inc. boosted its position in La-Z-Boy by 7.5% in the second quarter. Pacer Advisors Inc. now owns 1,394,677 shares of the company’s stock valued at $51,994,000 after buying an additional 97,680 shares during the last quarter. American Century Companies Inc. boosted its position in La-Z-Boy by 14.5% in the second quarter. American Century Companies Inc. now owns 982,668 shares of the company’s stock valued at $36,634,000 after buying an additional 124,409 shares during the last quarter. First Trust Advisors LP boosted its position in La-Z-Boy by 31.8% in the fourth quarter. First Trust Advisors LP now owns 789,342 shares of the company’s stock valued at $29,143,000 after buying an additional 190,651 shares during the last quarter. Schroder Investment Management Group boosted its position in La-Z-Boy by 1.3% in the fourth quarter. Schroder Investment Management Group now owns 692,004 shares of the company’s stock valued at $25,549,000 after buying an additional 8,722 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in La-Z-Boy by 0.7% in the first quarter. Principal Financial Group Inc. now owns 235,072 shares of the company’s stock valued at $8,843,000 after acquiring an additional 1,739 shares during the period. Hedge funds and other institutional investors own 99.62% of the company’s stock.

Insider Transactions at La-Z-Boy

In other news, Director Janet Kerr sold 3,890 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $40.89, for a total transaction of $159,062.10. Following the completion of the transaction, the director now directly owns 3,372 shares in the company, valued at approximately $137,881.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Janet Kerr sold 3,890 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $40.89, for a total transaction of $159,062.10. Following the completion of the transaction, the director now directly owns 3,372 shares in the company, valued at approximately $137,881.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jennifer Lynn Mccurry sold 4,414 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.31, for a total value of $182,342.34. Following the transaction, the chief accounting officer now directly owns 13,236 shares in the company, valued at approximately $546,779.16. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

La-Z-Boy Stock Up 0.9 %

Shares of NYSE:LZB opened at $42.95 on Tuesday. The business has a fifty day moving average of $41.68 and a two-hundred day moving average of $38.09. The stock has a market cap of $1.80 billion, a P/E ratio of 15.17 and a beta of 1.28. La-Z-Boy Incorporated has a 52-week low of $27.92 and a 52-week high of $45.23.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $495.50 million during the quarter, compared to analysts’ expectations of $482.23 million. La-Z-Boy had a return on equity of 12.90% and a net margin of 5.89%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. On average, equities analysts anticipate that La-Z-Boy Incorporated will post 2.98 earnings per share for the current year.

La-Z-Boy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, September 5th. La-Z-Boy’s dividend payout ratio is presently 28.27%.

Wall Street Analyst Weigh In

Separately, Sidoti downgraded La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Wednesday, August 21st.

About La-Z-Boy

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 Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.