La-Z-Boy Incorporated (NYSE:LZB) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,528 shares of the company’s stock after selling 527 shares during the quarter. Amalgamated Bank’s holdings in La-Z-Boy were worth $538,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Miller Howard Investments Inc. NY boosted its holdings in La-Z-Boy by 2.3% in the second quarter. Miller Howard Investments Inc. NY now owns 11,356 shares of the company’s stock worth $423,000 after purchasing an additional 252 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of La-Z-Boy by 1.4% during the second quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the company’s stock valued at $802,000 after acquiring an additional 300 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in La-Z-Boy by 0.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 36,639 shares of the company’s stock worth $1,379,000 after purchasing an additional 307 shares during the period. SummerHaven Investment Management LLC lifted its holdings in La-Z-Boy by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 25,332 shares of the company’s stock worth $944,000 after purchasing an additional 418 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in La-Z-Boy by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,742 shares of the company’s stock worth $329,000 after purchasing an additional 599 shares during the period. Institutional investors and hedge funds own 99.62% of the company’s stock.

La-Z-Boy Price Performance

Shares of LZB opened at $42.79 on Friday. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 15.23 and a beta of 1.29. The business’s 50-day moving average is $40.97 and its 200-day moving average is $39.39. La-Z-Boy Incorporated has a fifty-two week low of $30.68 and a fifty-two week high of $45.23.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm 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 company’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. Equities research analysts expect that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Thursday, September 5th. La-Z-Boy’s payout ratio is presently 28.47%.

Insider Transactions at La-Z-Boy

In other La-Z-Boy news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $41.31, for a total transaction of $182,342.34. Following the transaction, the chief accounting officer now owns 13,236 shares in the company, valued at approximately $546,779.16. This trade represents a 25.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janet Kerr sold 3,890 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $40.89, for a total value of $159,062.10. Following the sale, the director now directly owns 3,372 shares in the company, valued at approximately $137,881.08. This represents a 53.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

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

La-Z-Boy Company Profile

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.