Rhumbline Advisers Raises Stock Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Rhumbline Advisers grew its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 174,735 shares of the company's stock after acquiring an additional 14,443 shares during the quarter. Rhumbline Advisers owned about 0.42% of La-Z-Boy worth $6,830,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its position in La-Z-Boy by 244.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 658 shares of the company's stock worth $29,000 after buying an additional 467 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in La-Z-Boy in the 4th quarter worth approximately $51,000. Johnson Financial Group Inc. lifted its position in La-Z-Boy by 2,394.1% in the 4th quarter. Johnson Financial Group Inc. now owns 1,696 shares of the company's stock worth $80,000 after buying an additional 1,628 shares during the last quarter. Bank of Montreal Can bought a new stake in La-Z-Boy in the 4th quarter worth approximately $203,000. Finally, iSAM Funds UK Ltd purchased a new position in La-Z-Boy in the 4th quarter worth approximately $205,000. Institutional investors own 99.62% of the company's stock.

La-Z-Boy Stock Down 1.5%

Shares of LZB traded down $0.58 during mid-day trading on Friday, hitting $38.21. 499,616 shares of the company's stock traded hands, compared to its average volume of 489,174. La-Z-Boy Incorporated has a 1 year low of $33.34 and a 1 year high of $48.31. The firm has a market capitalization of $1.58 billion, a P/E ratio of 13.13 and a beta of 1.31. The business's 50-day moving average price is $40.56 and its 200-day moving average price is $42.35.

La-Z-Boy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $0.88 annualized dividend and a dividend yield of 2.30%. La-Z-Boy's dividend payout ratio (DPR) is presently 30.24%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wall Street Zen raised La-Z-Boy from a "hold" rating to a "buy" rating in a research note on Saturday. KeyCorp raised La-Z-Boy from a "sector weight" rating to an "overweight" rating and set a $46.00 price target on the stock in a research note on Friday, April 25th.

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 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.