Teton Advisors Inc. Decreases Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Teton Advisors Inc. trimmed its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 39.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,000 shares of the company’s stock after selling 13,000 shares during the quarter. Teton Advisors Inc.’s holdings in La-Z-Boy were worth $582,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. BNP Paribas Arbitrage SNC raised its position in shares of La-Z-Boy by 74.4% during the 1st quarter. BNP Paribas Arbitrage SNC now owns 32,598 shares of the company’s stock valued at $948,000 after buying an additional 13,902 shares in the last quarter. Bank of America Corp DE raised its position in La-Z-Boy by 20.8% in the 1st quarter. Bank of America Corp DE now owns 225,739 shares of the company’s stock worth $6,565,000 after purchasing an additional 38,813 shares during the period. Brandywine Global Investment Management LLC raised its position in La-Z-Boy by 13.2% in the 1st quarter. Brandywine Global Investment Management LLC now owns 114,850 shares of the company’s stock worth $3,340,000 after purchasing an additional 13,368 shares during the period. UBS Group AG raised its position in La-Z-Boy by 25.6% in the 1st quarter. UBS Group AG now owns 62,260 shares of the company’s stock worth $1,811,000 after purchasing an additional 12,706 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in La-Z-Boy in the 1st quarter worth about $532,000. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

La-Z-Boy Stock Down 2.1 %

Shares of NYSE LZB traded down $0.67 during trading on Friday, hitting $30.87. The company had a trading volume of 53,740 shares, compared to its average volume of 369,838. The stock has a fifty day simple moving average of $30.62 and a two-hundred day simple moving average of $29.27. La-Z-Boy Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $33.92. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 9.76 and a beta of 1.12.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Wednesday, August 23rd. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. The firm had revenue of $481.65 million for the quarter, compared to analyst estimates of $474.58 million. La-Z-Boy had a net margin of 6.27% and a return on equity of 16.64%. La-Z-Boy’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. On average, analysts anticipate that La-Z-Boy Incorporated will post 2.86 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, September 6th will be paid a dividend of $0.1815 per share. This represents a $0.73 annualized dividend and a yield of 2.35%. The ex-dividend date is Tuesday, September 5th. La-Z-Boy’s payout ratio is currently 22.60%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of La-Z-Boy in a research report on Thursday, August 17th. They set a “buy” rating on the 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.