Acadian Asset Management LLC Purchases 33,926 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Acadian Asset Management LLC grew its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 27.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,289 shares of the company’s stock after buying an additional 33,926 shares during the quarter. Acadian Asset Management LLC owned 0.35% of La-Z-Boy worth $5,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LZB. BlackRock Inc. increased its stake in shares of La-Z-Boy by 0.4% in the 3rd quarter. BlackRock Inc. now owns 7,216,042 shares of the company’s stock worth $228,244,000 after purchasing an additional 26,341 shares in the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of La-Z-Boy by 2.6% in the 2nd quarter. Silvercrest Asset Management Group LLC now owns 2,768,481 shares of the company’s stock worth $74,915,000 after purchasing an additional 70,086 shares in the last quarter. LSV Asset Management increased its stake in shares of La-Z-Boy by 3.5% in the 3rd quarter. LSV Asset Management now owns 1,343,048 shares of the company’s stock worth $42,480,000 after purchasing an additional 45,454 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of La-Z-Boy by 0.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,212,451 shares of the company’s stock worth $32,808,000 after purchasing an additional 11,383 shares in the last quarter. Finally, Venture Visionary Partners LLC increased its stake in shares of La-Z-Boy by 4.4% in the 3rd quarter. Venture Visionary Partners LLC now owns 560,937 shares of the company’s stock worth $17,742,000 after purchasing an additional 23,831 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on LZB shares. Sidoti upgraded La-Z-Boy from a “neutral” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Monday, October 19th. Zacks Investment Research upgraded La-Z-Boy from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Saturday. Finally, Raymond James upped their price objective on La-Z-Boy from $37.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. La-Z-Boy currently has an average rating of “Buy” and an average target price of $43.00.

Shares of LZB stock opened at $39.32 on Friday. La-Z-Boy Incorporated has a 52-week low of $15.61 and a 52-week high of $42.69. The firm has a market capitalization of $1.81 billion, a PE ratio of 28.70 and a beta of 1.20. The stock has a fifty day simple moving average of $35.30 and a two-hundred day simple moving average of $30.24.

La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Monday, November 16th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.32. La-Z-Boy had a return on equity of 12.42% and a net margin of 4.07%. Equities analysts anticipate that La-Z-Boy Incorporated will post 2.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Wednesday, December 2nd will be given a dividend of $0.14 per share. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.07. The ex-dividend date is Tuesday, December 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.42%. La-Z-Boy’s dividend payout ratio (DPR) is presently 16.20%.

In other news, CEO Kurt L. Darrow sold 42,613 shares of the firm’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $35.11, for a total transaction of $1,496,142.43. Following the completion of the transaction, the chief executive officer now owns 618,430 shares in the company, valued at $21,713,077.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Darrell Dewain Edwards sold 96,119 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $37.04, for a total value of $3,560,247.76. Company insiders own 4.20% of the company’s stock.

La-Z-Boy Company 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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.

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

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