La-Z-Boy Incorporated (NYSE:LZB) Position Lowered by Public Sector Pension Investment Board

Public Sector Pension Investment Board trimmed its position in La-Z-Boy Incorporated (NYSE:LZB) by 4.9% in the third quarter, Holdings Channel reports. The firm owned 89,210 shares of the company’s stock after selling 4,600 shares during the quarter. Public Sector Pension Investment Board’s holdings in La-Z-Boy were worth $3,830,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. acquired a new position in shares of La-Z-Boy in the 3rd quarter worth approximately $30,000. Quarry LP boosted its holdings in La-Z-Boy by 2,550.0% in the second quarter. Quarry LP now owns 1,378 shares of the company’s stock worth $51,000 after purchasing an additional 1,326 shares during the period. Canada Pension Plan Investment Board bought a new stake in La-Z-Boy during the second quarter valued at $63,000. Innealta Capital LLC bought a new position in shares of La-Z-Boy in the 2nd quarter worth about $69,000. Finally, Quest Partners LLC acquired a new position in shares of La-Z-Boy in the 2nd quarter valued at about $91,000. 99.62% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Janet Kerr sold 3,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $40.89, for a total value of $159,062.10. Following the sale, the director now directly owns 3,372 shares in the company, valued at $137,881.08. This trade represents a 53.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

La-Z-Boy Price Performance

NYSE:LZB opened at $45.74 on Tuesday. The firm has a market capitalization of $1.90 billion, a P/E ratio of 15.83 and a beta of 1.29. The business has a 50 day simple moving average of $41.54 and a 200 day simple moving average of $40.17. La-Z-Boy Incorporated has a 12-month low of $32.00 and a 12-month high of $46.35.

La-Z-Boy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.88 annualized dividend and a dividend yield of 1.92%. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.20. La-Z-Boy’s dividend payout ratio is currently 27.68%.

Wall Street Analysts Forecast Growth

Separately, Sidoti lowered shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research note on Wednesday, August 21st.

About La-Z-Boy

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.