First Trust Advisors LP increased its position in shares of La-Z-Boy Incorporated (NYSE:LZB – Get Rating) by 8.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 654,046 shares of the company’s stock after purchasing an additional 52,588 shares during the quarter. First Trust Advisors LP owned approximately 1.52% of La-Z-Boy worth $14,762,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LZB. Captrust Financial Advisors lifted its position in shares of La-Z-Boy by 84.7% in the first quarter. Captrust Financial Advisors now owns 3,290 shares of the company’s stock worth $87,000 after purchasing an additional 1,509 shares in the last quarter. Point72 Hong Kong Ltd increased its stake in shares of La-Z-Boy by 540.7% in the first quarter. Point72 Hong Kong Ltd now owns 4,363 shares of the company’s stock valued at $115,000 after buying an additional 3,682 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of La-Z-Boy by 186.9% in the third quarter. Tower Research Capital LLC TRC now owns 6,447 shares of the company’s stock valued at $146,000 after buying an additional 4,200 shares during the period. Heritage Wealth Management LLC acquired a new stake in La-Z-Boy during the 2nd quarter valued at approximately $147,000. Finally, Mutual of America Capital Management LLC grew its position in shares of La-Z-Boy by 14.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 7,259 shares of the company’s stock worth $172,000 after buying an additional 932 shares during the period. Institutional investors and hedge funds own 96.55% of the company’s stock.
La-Z-Boy Stock Performance
Shares of LZB stock opened at $29.41 on Friday. La-Z-Boy Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $33.06. The company has a market capitalization of $1.27 billion, a P/E ratio of 7.30 and a beta of 1.13. The stock has a 50 day moving average price of $28.20 and a two-hundred day moving average price of $25.90.
La-Z-Boy Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, March 7th will be given a $0.182 dividend. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, March 6th. This represents a $0.73 dividend on an annualized basis and a yield of 2.48%. La-Z-Boy’s dividend payout ratio is presently 18.11%.
Wall Street Analysts Forecast Growth
Separately, TheStreet upgraded La-Z-Boy from a “c+” rating to a “b-” rating in a research note on Thursday, January 26th.
About La-Z-Boy
La-Z-Boy, Inc engages in the production of reclining chairs and manufacture and distribution of residential furniture. It operates through the following segments: Wholesale, Retail, and Corporate and Other. 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 casegoods (wood) furniture, such as occasional pieces, bedroom sets, dining room sets and entertainment centers.
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