KLP Kapitalforvaltning AS Makes New Investment in La-Z-Boy Incorporated (NYSE:LZB)

KLP Kapitalforvaltning AS purchased a new position in La-Z-Boy Incorporated (NYSE:LZB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,000 shares of the company's stock, valued at approximately $349,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC raised its position in shares of La-Z-Boy by 16.0% in the third quarter. FMR LLC now owns 74,009 shares of the company's stock valued at $3,177,000 after buying an additional 10,195 shares during the last quarter. BNP Paribas Financial Markets grew its stake in La-Z-Boy by 157.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 37,657 shares of the company's stock worth $1,617,000 after acquiring an additional 23,028 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in La-Z-Boy by 9.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,146 shares of the company's stock valued at $478,000 after acquiring an additional 1,008 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of La-Z-Boy during the 3rd quarter worth $370,000. Finally, State Street Corp boosted its holdings in shares of La-Z-Boy by 0.4% during the third quarter. State Street Corp now owns 1,672,009 shares of the company's stock worth $71,779,000 after purchasing an additional 6,925 shares during the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

La-Z-Boy Stock Down 1.6 %

Shares of NYSE:LZB traded down $0.62 during midday trading on Thursday, reaching $38.34. The company's stock had a trading volume of 479,299 shares, compared to its average volume of 481,088. The business has a 50 day moving average price of $41.67 and a 200 day moving average price of $42.51. La-Z-Boy Incorporated has a 1 year low of $32.00 and a 1 year high of $48.31. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 13.17 and a beta of 1.31.

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La-Z-Boy (NYSE:LZB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $521.78 million during the quarter, compared to analysts' expectations of $516.47 million. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. Sell-side analysts anticipate that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Tuesday, March 4th. La-Z-Boy's dividend payout ratio is currently 30.24%.

About La-Z-Boy

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.