First Trust Advisors LP reduced its position in shares of La-Z-Boy Inc. (NYSE:LZB) by 24.8% during the second quarter, Holdings Channel reports. The firm owned 37,716 shares of the company’s stock after selling 12,416 shares during the period. First Trust Advisors LP owned 0.08% of La-Z-Boy worth $1,049,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Quantbot Technologies LP raised its stake in La-Z-Boy by 270.7% in the second quarter. Quantbot Technologies LP now owns 3,726 shares of the company’s stock worth $103,000 after buying an additional 2,721 shares during the period. BlackRock Inc. raised its stake in La-Z-Boy by 135.1% in the first quarter. BlackRock Inc. now owns 4,021 shares of the company’s stock worth $108,000 after buying an additional 2,311 shares during the period. Gray Financial Group GA ADV ADV bought a new stake in La-Z-Boy during the second quarter worth about $155,000. Fox Run Management L.L.C. bought a new stake in La-Z-Boy during the second quarter worth about $200,000. Finally, First Quadrant L P CA bought a new stake in La-Z-Boy during the second quarter worth about $206,000. Institutional investors and hedge funds own 86.05% of the company’s stock.
La-Z-Boy Inc. (NYSE:LZB) traded up 1.89% on Wednesday, reaching $24.85. The company had a trading volume of 67,031 shares. The stock has a 50 day moving average price of $26.72 and a 200 day moving average price of $27.06. The stock has a market capitalization of $1.22 billion, a PE ratio of 15.90 and a beta of 1.27. La-Z-Boy Inc. has a 52-week low of $19.56 and a 52-week high of $31.22.
La-Z-Boy (NYSE:LZB) last issued its quarterly earnings data on Tuesday, August 23rd. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. La-Z-Boy had a return on equity of 15.01% and a net margin of 5.21%. The business had revenue of $340.80 million for the quarter, compared to analysts’ expectations of $358.79 million. During the same period last year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Analysts expect that La-Z-Boy Inc. will post $1.71 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, September 2nd were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.64%. La-Z-Boy’s dividend payout ratio (DPR) is 25.48%.
A number of research firms have recently issued reports on LZB. Longbow Research began coverage on La-Z-Boy in a research report on Friday, August 5th. They issued a “neutral” rating for the company. Zacks Investment Research upgraded La-Z-Boy from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th.
In other news, insider Otis S. Sawyer sold 5,935 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $27.46, for a total transaction of $162,975.10. Following the completion of the transaction, the insider now directly owns 62,216 shares of the company’s stock, valued at approximately $1,708,451.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Douglas Collier sold 26,874 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $26.17, for a total transaction of $703,292.58. Following the transaction, the insider now directly owns 98,849 shares of the company’s stock, valued at $2,586,878.33. The disclosure for this sale can be found here. Insiders own 3.57% of the company’s stock.
La-Z-Boy Company 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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