International Assets Investment Management LLC Makes New Investment in La-Z-Boy Incorporated (NYSE:LZB)

International Assets Investment Management LLC purchased a new stake in La-Z-Boy Incorporated (NYSE:LZB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 960 shares of the company’s stock, valued at approximately $35,000.

Several other institutional investors have also made changes to their positions in LZB. SG Americas Securities LLC acquired a new position in La-Z-Boy in the 3rd quarter valued at $153,000. Brown Advisory Inc. raised its holdings in La-Z-Boy by 2.7% in the 3rd quarter. Brown Advisory Inc. now owns 1,018,079 shares of the company’s stock valued at $31,438,000 after buying an additional 26,663 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of La-Z-Boy by 33.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,367 shares of the company’s stock worth $289,000 after purchasing an additional 2,345 shares during the last quarter. Inspire Investing LLC bought a new position in La-Z-Boy during the 3rd quarter worth $305,000. Finally, TD Asset Management Inc bought a new stake in shares of La-Z-Boy in the 3rd quarter valued at about $204,000. 99.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Michael Adam Leggett sold 3,077 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $37.08, for a total value of $114,095.16. Following the transaction, the senior vice president now owns 21,519 shares in the company, valued at $797,924.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by company insiders.

La-Z-Boy Trading Down 0.4 %

LZB stock opened at $32.71 on Thursday. The stock has a 50-day moving average price of $35.66 and a 200-day moving average price of $34.71. La-Z-Boy Incorporated has a 1-year low of $25.12 and a 1-year high of $39.87. The firm has a market cap of $1.39 billion, a PE ratio of 12.07 and a beta of 1.16.

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 company had revenue of $500.40 million during the quarter, compared to analyst estimates of $523.09 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. On average, analysts forecast that La-Z-Boy Incorporated will post 2.72 earnings per share for the current year.

La-Z-Boy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 4th. This represents a $0.80 annualized dividend and a yield of 2.45%. La-Z-Boy’s payout ratio is 29.52%.

Analysts Set New Price Targets

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

La-Z-Boy 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.