Engineers Gate Manager LP Purchases New Position in La-Z-Boy Incorporated (LZB)
Engineers Gate Manager LP purchased a new position in shares of La-Z-Boy Incorporated (NYSE:LZB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,644 shares of the company’s stock, valued at approximately $797,000. Engineers Gate Manager LP owned 0.06% of La-Z-Boy as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the business. Toronto Dominion Bank purchased a new position in shares of La-Z-Boy in the 3rd quarter worth $135,000. Ameritas Investment Partners Inc. raised its position in shares of La-Z-Boy by 7.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,240 shares of the company’s stock worth $138,000 after buying an additional 290 shares during the period. Victory Capital Management Inc. raised its position in shares of La-Z-Boy by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,999 shares of the company’s stock worth $162,000 after buying an additional 747 shares during the period. Amalgamated Bank purchased a new position in shares of La-Z-Boy in the 2nd quarter worth $217,000. Finally, Cigna Investments Inc. New purchased a new position in shares of La-Z-Boy in the 2nd quarter worth $218,000. 86.50% of the stock is currently owned by institutional investors.
Several brokerages recently weighed in on LZB. Stifel Nicolaus reaffirmed a “hold” rating on shares of La-Z-Boy in a research report on Friday, December 1st. ValuEngine raised La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. KeyCorp reaffirmed a “buy” rating and issued a $36.00 target price on shares of La-Z-Boy in a research report on Friday, November 10th. Zacks Investment Research raised La-Z-Boy from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, BidaskClub lowered La-Z-Boy from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. La-Z-Boy currently has a consensus rating of “Hold” and a consensus price target of $33.00.
La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Wednesday, November 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. La-Z-Boy had a return on equity of 14.33% and a net margin of 5.53%. The firm had revenue of $393.20 million during the quarter, compared to the consensus estimate of $390.03 million. During the same period in the prior year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. analysts predict that La-Z-Boy Incorporated will post 1.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 11th will be issued a $0.12 dividend. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, December 8th. La-Z-Boy’s dividend payout ratio is currently 27.43%.
ILLEGAL ACTIVITY WARNING: “Engineers Gate Manager LP Purchases New Position in La-Z-Boy Incorporated (LZB)” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/12/15/engineers-gate-manager-lp-purchases-new-position-in-la-z-boy-incorporated-lzb.html.
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
Want to see what other hedge funds are holding LZB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for La-Z-Boy Incorporated (NYSE:LZB).
Receive News & Stock Ratings for La-Z-Boy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy and related stocks with our FREE daily email newsletter.