Natixis Advisors LLC Buys 2,489 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Natixis Advisors LLC raised its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 11.4% in the third quarter, HoldingsChannel reports. The fund owned 24,349 shares of the company’s stock after acquiring an additional 2,489 shares during the period. Natixis Advisors LLC’s holdings in La-Z-Boy were worth $1,045,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC boosted its stake in La-Z-Boy by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 202,786 shares of the company’s stock valued at $8,706,000 after purchasing an additional 10,318 shares during the period. Victory Capital Management Inc. boosted its position in shares of La-Z-Boy by 85.8% in the third quarter. Victory Capital Management Inc. now owns 45,267 shares of the company’s stock valued at $1,943,000 after acquiring an additional 20,900 shares during the period. Versor Investments LP bought a new stake in shares of La-Z-Boy in the third quarter valued at about $446,000. Assetmark Inc. acquired a new position in shares of La-Z-Boy in the third quarter valued at about $30,000. Finally, abrdn plc bought a new position in La-Z-Boy during the third quarter worth about $10,809,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at La-Z-Boy

In related news, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction that occurred on 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 directly owns 3,372 shares of the company’s stock, valued at $137,881.08. This trade represents a 53.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.70% of the stock is owned by insiders.

La-Z-Boy Price Performance

Shares of NYSE:LZB opened at $45.26 on Wednesday. The company has a market capitalization of $1.88 billion, a P/E ratio of 15.84 and a beta of 1.29. The business’s 50 day simple moving average is $41.33 and its 200 day simple moving average is $39.84. La-Z-Boy Incorporated has a 1 year low of $30.76 and a 1 year high of $46.35.

La-Z-Boy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.94%. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.20. La-Z-Boy’s dividend payout ratio (DPR) is presently 30.45%.

La-Z-Boy 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.