Intech Investment Management LLC Has $4.78 Million Stock Holdings in La-Z-Boy Incorporated $LZB

Intech Investment Management LLC raised its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 100.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 128,241 shares of the company’s stock after purchasing an additional 64,265 shares during the quarter. Intech Investment Management LLC owned 0.31% of La-Z-Boy worth $4,780,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Osaic Holdings Inc. boosted its holdings in shares of La-Z-Boy by 3.5% in the 2nd quarter. Osaic Holdings Inc. now owns 9,258 shares of the company’s stock valued at $344,000 after purchasing an additional 310 shares in the last quarter. Smartleaf Asset Management LLC increased its position in La-Z-Boy by 75.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock worth $26,000 after purchasing an additional 324 shares in the last quarter. Raymond James Financial Inc. increased its position in La-Z-Boy by 2.3% during the 3rd quarter. Raymond James Financial Inc. now owns 14,703 shares of the company’s stock worth $505,000 after purchasing an additional 336 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in La-Z-Boy by 0.3% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 110,619 shares of the company’s stock worth $4,126,000 after purchasing an additional 363 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC increased its position in La-Z-Boy by 1.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 20,666 shares of the company’s stock worth $770,000 after purchasing an additional 374 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of La-Z-Boy in a report on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

La-Z-Boy Stock Up 0.1%

NYSE LZB opened at $37.63 on Monday. La-Z-Boy Incorporated has a twelve month low of $29.03 and a twelve month high of $42.44. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 18.63 and a beta of 1.26. The business’s fifty day moving average is $34.48 and its 200 day moving average is $36.13.

La-Z-Boy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Tuesday, June 2nd will be issued a dividend of $0.242 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.97 annualized dividend and a dividend yield of 2.6%. La-Z-Boy’s dividend payout ratio (DPR) is 48.02%.

About La-Z-Boy

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.