Connor Clark & Lunn Investment Management Ltd. Buys New Position in La-Z-Boy Incorporated (NYSE:LZB)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,682 shares of the company's stock, valued at approximately $1,060,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of La-Z-Boy as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LZB. Commerce Bank acquired a new position in shares of La-Z-Boy during the 3rd quarter worth $264,000. Meeder Asset Management Inc. raised its stake in La-Z-Boy by 228.2% during the third quarter. Meeder Asset Management Inc. now owns 33,811 shares of the company's stock worth $1,452,000 after acquiring an additional 23,510 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of La-Z-Boy by 382.4% in the third quarter. Quest Partners LLC now owns 11,837 shares of the company's stock worth $508,000 after acquiring an additional 9,383 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of La-Z-Boy by 11.4% in the 3rd quarter. Natixis Advisors LLC now owns 24,349 shares of the company's stock valued at $1,045,000 after purchasing an additional 2,489 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of 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 in the last quarter. 99.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Sidoti cut 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 research report on Wednesday, August 21st.

Insider Transactions at La-Z-Boy

In other news, Director Janet Kerr sold 3,890 shares of the firm's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the completion of the transaction, the director now owns 3,372 shares of the company's stock, valued at approximately $137,881.08. This trade represents a 53.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.70% of the company's stock.

La-Z-Boy Price Performance

Shares of NYSE LZB traded down $0.12 during mid-day trading on Thursday, hitting $45.14. 276,609 shares of the stock traded hands, compared to its average volume of 444,018. The company has a market cap of $1.87 billion, a PE ratio of 15.62 and a beta of 1.29. La-Z-Boy Incorporated has a twelve month low of $30.76 and a twelve month high of $46.35. The firm has a 50 day simple moving average of $41.42 and a two-hundred day simple moving average of $39.95.

La-Z-Boy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.95%. This is a positive change from La-Z-Boy's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 5th. La-Z-Boy's dividend payout ratio (DPR) is presently 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.