Nisa Investment Advisors LLC Lowers Position in La-Z-Boy Incorporated (NYSE:LZB)

Nisa Investment Advisors LLC reduced its stake in La-Z-Boy Incorporated (NYSE:LZB) by 33.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,130 shares of the company’s stock after selling 7,522 shares during the quarter. Nisa Investment Advisors LLC’s holdings in La-Z-Boy were worth $559,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of La-Z-Boy during the 4th quarter valued at $35,000. Quarry LP increased its position in shares of La-Z-Boy by 184.4% during the 1st quarter. Quarry LP now owns 1,018 shares of the company’s stock valued at $30,000 after purchasing an additional 660 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of La-Z-Boy by 112.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,493 shares of the company’s stock valued at $71,000 after purchasing an additional 1,317 shares during the last quarter. Captrust Financial Advisors increased its position in shares of La-Z-Boy by 84.7% during the 1st quarter. Captrust Financial Advisors now owns 3,290 shares of the company’s stock valued at $87,000 after purchasing an additional 1,509 shares during the last quarter. Finally, Point72 Middle East FZE purchased a new stake in shares of La-Z-Boy during the 4th quarter valued at $80,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

La-Z-Boy Stock Performance

Shares of LZB opened at $32.69 on Thursday. The business has a 50-day moving average of $36.54 and a 200 day moving average of $34.48. La-Z-Boy Incorporated has a fifty-two week low of $25.12 and a fifty-two week high of $39.87. The firm has a market cap of $1.39 billion, a P/E ratio of 12.06 and a beta of 1.16.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $500.40 million during the quarter, compared to analysts’ expectations of $523.09 million. During the same period last year, the business posted $0.91 EPS. The company’s revenue was down 12.6% compared to the same quarter last year. As a group, research analysts predict that La-Z-Boy Incorporated will post 2.72 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, SVP Michael Adam Leggett sold 3,077 shares of La-Z-Boy stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $37.08, for a total value of $114,095.16. Following the completion of the sale, the senior vice president now owns 21,519 shares of the company’s stock, valued at approximately $797,924.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.70% of the stock is currently owned by insiders.

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.