Teton Advisors Inc. Reduces Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Teton Advisors Inc. cut its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 60.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,000 shares of the company’s stock after selling 12,000 shares during the period. Teton Advisors Inc.’s holdings in La-Z-Boy were worth $295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. SummerHaven Investment Management LLC raised its position in La-Z-Boy by 1.2% during the 4th quarter. SummerHaven Investment Management LLC now owns 24,649 shares of the company’s stock valued at $910,000 after purchasing an additional 302 shares in the last quarter. WINTON GROUP Ltd raised its position in La-Z-Boy by 7.9% during the 3rd quarter. WINTON GROUP Ltd now owns 11,826 shares of the company’s stock valued at $365,000 after purchasing an additional 870 shares in the last quarter. International Assets Investment Management LLC bought a new stake in La-Z-Boy during the 4th quarter valued at $35,000. Teacher Retirement System of Texas raised its position in shares of La-Z-Boy by 10.3% in the 3rd quarter. Teacher Retirement System of Texas now owns 13,508 shares of the company’s stock worth $417,000 after acquiring an additional 1,256 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of La-Z-Boy by 1.4% during the 3rd quarter. Swiss National Bank now owns 95,200 shares of the company’s stock worth $2,940,000 after purchasing an additional 1,300 shares during the last quarter. 99.62% of the stock is owned by institutional investors.

La-Z-Boy Price Performance

La-Z-Boy stock traded up $0.27 during midday trading on Thursday, reaching $32.99. The company’s stock had a trading volume of 467,690 shares, compared to its average volume of 385,559. The stock’s 50-day simple moving average is $35.66 and its 200-day simple moving average is $34.71. La-Z-Boy Incorporated has a 52-week low of $25.12 and a 52-week high of $39.87. The stock has a market capitalization of $1.41 billion, a P/E ratio of 12.17 and a beta of 1.19.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). The firm had revenue of $500.40 million during the quarter, compared to analyst estimates of $523.09 million. La-Z-Boy had a net margin of 5.73% and a return on equity of 13.55%. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. As a group, equities research analysts expect that La-Z-Boy Incorporated will post 2.72 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Tuesday, June 4th. La-Z-Boy’s dividend payout ratio (DPR) is 29.52%.

Insider Buying and Selling

In related news, SVP Michael Adam Leggett sold 3,077 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $37.08, for a total transaction of $114,095.16. Following the sale, the senior vice president now directly owns 21,519 shares of the company’s stock, valued at $797,924.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th.

La-Z-Boy Company 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.