Mirae Asset Global Investments Co. Ltd. Has $743,000 Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of La-Z-Boy Incorporated (NYSE:LZB) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,128 shares of the company’s stock after purchasing an additional 1,457 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in La-Z-Boy were worth $743,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LZB. International Assets Investment Management LLC acquired a new position in shares of La-Z-Boy during the 4th quarter worth approximately $35,000. SG Americas Securities LLC bought a new stake in La-Z-Boy in the 3rd quarter valued at $153,000. TD Asset Management Inc bought a new stake in La-Z-Boy in the 3rd quarter valued at $204,000. Vest Financial LLC bought a new stake in La-Z-Boy in the 4th quarter valued at $241,000. Finally, Quadrature Capital Ltd bought a new stake in La-Z-Boy in the 3rd quarter valued at $251,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th.

La-Z-Boy Stock Performance

NYSE:LZB opened at $34.04 on Thursday. The stock has a fifty day moving average price of $36.19 and a 200-day moving average price of $34.60. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 12.54 and a beta of 1.16. La-Z-Boy Incorporated has a fifty-two week low of $25.12 and a fifty-two week high of $39.87.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). La-Z-Boy had a return on equity of 13.55% and a net margin of 5.73%. The business had revenue of $500.40 million for the quarter, compared to analyst estimates of $523.09 million. During the same period last year, the firm posted $0.91 EPS. La-Z-Boy’s quarterly revenue was down 12.6% on a year-over-year basis. Research analysts predict that La-Z-Boy Incorporated will post 2.72 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were given a $0.20 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.35%. La-Z-Boy’s dividend payout ratio (DPR) is presently 29.52%.

Insider Buying and Selling at La-Z-Boy

In other La-Z-Boy news, SVP Michael Adam Leggett sold 3,077 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $37.08, for a total value of $114,095.16. Following the sale, the senior vice president now owns 21,519 shares in the company, valued at approximately $797,924.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.