Gamco Investors INC. ET AL decreased its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 1.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 407,600 shares of the company’s stock after selling 8,000 shares during the period. Gamco Investors INC. ET AL owned 0.87% of La-Z-Boy worth $12,880,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bruderman Asset Management LLC purchased a new position in shares of La-Z-Boy during the second quarter valued at approximately $115,000. Meeder Asset Management Inc. lifted its stake in shares of La-Z-Boy by 96.2% during the second quarter. Meeder Asset Management Inc. now owns 4,021 shares of the company’s stock valued at $123,000 after buying an additional 1,972 shares during the period. Cozad Asset Management Inc. purchased a new position in shares of La-Z-Boy during the second quarter valued at approximately $214,000. NumerixS Investment Technologies Inc lifted its stake in shares of La-Z-Boy by 46.4% during the second quarter. NumerixS Investment Technologies Inc now owns 7,259 shares of the company’s stock valued at $224,000 after buying an additional 2,300 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of La-Z-Boy during the second quarter valued at approximately $249,000. 91.22% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider John Douglas Collier sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $31.66, for a total transaction of $158,300.00. Following the completion of the transaction, the insider now owns 75,070 shares of the company’s stock, valued at $2,376,716.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kurt L. Darrow sold 45,720 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $34.66, for a total transaction of $1,584,655.20. Following the transaction, the chairman now directly owns 549,302 shares of the company’s stock, valued at approximately $19,038,807.32. The disclosure for this sale can be found here. Insiders have sold 217,635 shares of company stock valued at $7,417,668 in the last ninety days. 4.55% of the stock is currently owned by company insiders.
Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of La-Z-Boy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 31st. ValuEngine lowered shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Stifel Nicolaus upped their price target on shares of La-Z-Boy from $33.00 to $35.00 and gave the stock a “hold” rating in a research report on Thursday, August 23rd.
Shares of LZB stock opened at $28.90 on Friday. La-Z-Boy Incorporated has a one year low of $26.70 and a one year high of $39.15. The company has a market cap of $1.36 billion, a P/E ratio of 15.97 and a beta of 1.11.
La-Z-Boy (NYSE:LZB) last issued its quarterly earnings results on Tuesday, August 21st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.25 by $0.14. La-Z-Boy had a net margin of 5.43% and a return on equity of 15.33%. The firm had revenue of $384.70 million during the quarter, compared to analyst estimates of $368.17 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. La-Z-Boy’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts expect that La-Z-Boy Incorporated will post 1.98 EPS for the current fiscal year.
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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.
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