Versor Investments LP Invests $446,000 in La-Z-Boy Incorporated (NYSE:LZB)

Versor Investments LP acquired a new stake in shares of La-Z-Boy Incorporated (NYSE:LZB) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,400 shares of the company’s stock, valued at approximately $446,000.

Other hedge funds also recently bought and sold shares of the company. Assetmark Inc. bought a new stake in shares of La-Z-Boy during the 3rd quarter valued at about $30,000. Quarry LP grew its position in La-Z-Boy by 2,550.0% during the second quarter. Quarry LP now owns 1,378 shares of the company’s stock valued at $51,000 after buying an additional 1,326 shares during the period. Canada Pension Plan Investment Board purchased a new stake in La-Z-Boy during the second quarter valued at approximately $63,000. Innealta Capital LLC bought a new stake in shares of La-Z-Boy during the 2nd quarter valued at $69,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of La-Z-Boy in the 1st quarter worth $70,000. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Trading Down 0.3 %

NYSE LZB opened at $43.06 on Friday. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 15.33 and a beta of 1.29. La-Z-Boy Incorporated has a 12 month low of $30.68 and a 12 month high of $45.23. The company’s 50 day moving average is $40.87 and its two-hundred day moving average is $39.26.

La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. La-Z-Boy had a net margin of 5.89% and a return on equity of 12.90%. The company had revenue of $495.50 million for the quarter, compared to analysts’ expectations of $482.23 million. During the same quarter in the previous year, the company earned $0.62 EPS. La-Z-Boy’s revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts forecast that La-Z-Boy Incorporated will post 2.98 EPS for the current year.

La-Z-Boy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Thursday, September 5th. La-Z-Boy’s dividend payout ratio is currently 28.47%.

Wall Street Analysts Forecast Growth

Separately, Sidoti cut La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a research report on Wednesday, August 21st.

Insider Activity at La-Z-Boy

In other La-Z-Boy news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $41.31, for a total value of $182,342.34. Following the sale, the chief accounting officer now owns 13,236 shares in the company, valued at $546,779.16. The trade was a 25.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Janet Kerr sold 3,890 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $40.89, for a total value of $159,062.10. Following the transaction, the director now owns 3,372 shares of the company’s stock, valued at approximately $137,881.08. The trade was a 53.57 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

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.