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.

Shares of La-Z-Boy Incorporated (LZB) traded down $0.50 during midday trading on Friday, reaching $30.40. The company had a trading volume of 377,000 shares, compared to its average volume of 466,185. La-Z-Boy Incorporated has a 52-week low of $23.15 and a 52-week high of $34.25. The firm has a market cap of $1,462.11, a P/E ratio of 17.66 and a beta of 1.03.

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%.

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La-Z-Boy Profile

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.

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Institutional Ownership by Quarter for La-Z-Boy (NYSE:LZB)

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