CSM Advisors LLC Invests $3.96 Million in La-Z-Boy Incorporated $LZB

CSM Advisors LLC purchased a new position in shares of La-Z-Boy Incorporated (NYSE:LZB) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 115,287 shares of the company’s stock, valued at approximately $3,958,000. CSM Advisors LLC owned about 0.28% of La-Z-Boy at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in La-Z-Boy by 208.8% in the third quarter. Franklin Resources Inc. now owns 1,492,928 shares of the company’s stock worth $51,237,000 after purchasing an additional 1,009,428 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in La-Z-Boy by 64.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 391,470 shares of the company’s stock valued at $14,551,000 after purchasing an additional 153,498 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in La-Z-Boy by 18.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 721,029 shares of the company’s stock valued at $24,400,000 after acquiring an additional 113,396 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of La-Z-Boy by 560.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 130,617 shares of the company’s stock worth $4,483,000 after purchasing an additional 110,828 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in La-Z-Boy by 7.8% during the third quarter. Thrivent Financial for Lutherans now owns 1,391,236 shares of the company’s stock worth $47,747,000 after buying an additional 100,416 shares during the last quarter. 99.62% of the stock is owned by institutional investors and hedge funds.

La-Z-Boy Stock Performance

Shares of LZB opened at $33.81 on Monday. The stock has a 50 day simple moving average of $37.08 and a 200 day simple moving average of $35.82. La-Z-Boy Incorporated has a 52-week low of $29.03 and a 52-week high of $44.49. The firm has a market capitalization of $1.38 billion, a PE ratio of 16.74 and a beta of 1.26.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, February 17th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.79%. The firm had revenue of $541.59 million for the quarter, compared to the consensus estimate of $535.47 million. During the same period last year, the company posted $0.68 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts predict that La-Z-Boy Incorporated will post 2.99 EPS for the current fiscal year.

La-Z-Boy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were issued a dividend of $0.242 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, March 3rd. La-Z-Boy’s dividend payout ratio (DPR) is presently 48.02%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LZB shares. Needham & Company LLC reaffirmed a “buy” rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Zacks Research cut shares of La-Z-Boy from a “strong-buy” rating to a “hold” rating in a report on Monday, January 19th. Sidoti raised shares of La-Z-Boy from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $39.00 in a research note on Wednesday, November 19th. KeyCorp reiterated an “overweight” rating on shares of La-Z-Boy in a report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday, December 22nd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.50.

Insider Activity at La-Z-Boy

In related news, SVP Michael Adam Leggett sold 2,200 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $37.00, for a total value of $81,400.00. Following the sale, the senior vice president directly owned 42,473 shares of the company’s stock, valued at approximately $1,571,501. The trade was a 4.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.66% of the stock is currently owned by insiders.

La-Z-Boy Profile

La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.

Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.