Commerce Bank Makes New Investment in La-Z-Boy Incorporated (NYSE:LZB)

Commerce Bank acquired a new position in shares of La-Z-Boy Incorporated (NYSE:LZB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,161 shares of the company’s stock, valued at approximately $264,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Miller Howard Investments Inc. NY raised its holdings in La-Z-Boy by 2.3% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 11,356 shares of the company’s stock worth $423,000 after buying an additional 252 shares during the period. Louisiana State Employees Retirement System raised its holdings in La-Z-Boy by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the company’s stock worth $802,000 after buying an additional 300 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in La-Z-Boy by 0.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 36,639 shares of the company’s stock worth $1,379,000 after buying an additional 307 shares during the period. SummerHaven Investment Management LLC raised its holdings in La-Z-Boy by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 25,332 shares of the company’s stock worth $944,000 after buying an additional 418 shares during the period. Finally, Access Investment Management LLC increased its holdings in shares of La-Z-Boy by 0.6% in the 2nd quarter. Access Investment Management LLC now owns 115,795 shares of the company’s stock valued at $4,317,000 after purchasing an additional 640 shares during the period. Institutional investors and hedge funds own 99.62% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at La-Z-Boy

In related news, Director Janet Kerr sold 3,890 shares of the business’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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

La-Z-Boy Price Performance

Shares of LZB opened at $45.19 on Thursday. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 15.66 and a beta of 1.29. La-Z-Boy Incorporated has a fifty-two week low of $30.76 and a fifty-two week high of $46.35. The business’s 50-day moving average is $41.37 and its 200-day moving average is $39.91.

La-Z-Boy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be issued a $0.22 dividend. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, December 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.95%. La-Z-Boy’s dividend payout ratio is currently 27.68%.

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.