Mutual of America Capital Management LLC Has $272,000 Position in La-Z-Boy Incorporated (NYSE:LZB)

Mutual of America Capital Management LLC reduced its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 9.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,326 shares of the company’s stock after selling 683 shares during the quarter. Mutual of America Capital Management LLC’s holdings in La-Z-Boy were worth $272,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LZB. Assetmark Inc. bought a new stake in La-Z-Boy in the 3rd quarter valued at $30,000. Quarry LP increased its stake in shares of La-Z-Boy by 2,550.0% during the 2nd quarter. Quarry LP now owns 1,378 shares of the company’s stock worth $51,000 after purchasing an additional 1,326 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of La-Z-Boy during the 2nd quarter worth approximately $63,000. Innealta Capital LLC bought a new position in shares of La-Z-Boy in the second quarter valued at about $69,000. Finally, Quest Partners LLC bought a new stake in shares of La-Z-Boy during the second quarter worth approximately $91,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

Analysts Set New Price Targets

Separately, Sidoti lowered shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research report on Wednesday, August 21st.

La-Z-Boy Price Performance

Shares of LZB opened at $45.14 on Friday. The firm has a 50 day simple moving average of $41.42 and a two-hundred day simple moving average of $39.95. La-Z-Boy Incorporated has a one year low of $30.76 and a one year high of $46.35. The company has a market cap of $1.87 billion, a P/E ratio of 15.62 and a beta of 1.29.

La-Z-Boy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 5th. La-Z-Boy’s dividend payout ratio is presently 27.68%.

Insider Buying and Selling 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 shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the completion of the sale, the director now directly owns 3,372 shares in the company, valued at $137,881.08. This represents a 53.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

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.