Systematic Financial Management LP Buys 48,263 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Systematic Financial Management LP lifted its position in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 563,684 shares of the company's stock after acquiring an additional 48,263 shares during the period. Systematic Financial Management LP owned approximately 1.35% of La-Z-Boy worth $24,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Miller Howard Investments Inc. NY increased its position in La-Z-Boy by 2.3% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 11,356 shares of the company's stock worth $423,000 after purchasing an additional 252 shares in the last quarter. Louisiana State Employees Retirement System increased its position in La-Z-Boy by 1.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the company's stock worth $802,000 after purchasing an additional 300 shares in the last quarter. SummerHaven Investment Management LLC increased its position in La-Z-Boy by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 25,332 shares of the company's stock worth $944,000 after purchasing an additional 418 shares in the last quarter. Access Investment Management LLC increased its position in La-Z-Boy by 0.6% during the 2nd quarter. Access Investment Management LLC now owns 115,795 shares of the company's stock worth $4,317,000 after purchasing an additional 640 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in La-Z-Boy by 3.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,059 shares of the company's stock worth $822,000 after purchasing an additional 672 shares in the last quarter. Institutional investors own 99.62% of the company's stock.

Analyst Ratings Changes

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.

La-Z-Boy Stock Down 2.3 %

NYSE LZB traded down $1.06 on Thursday, hitting $44.83. The company's stock had a trading volume of 225,889 shares, compared to its average volume of 441,830. La-Z-Boy Incorporated has a 1-year low of $32.00 and a 1-year high of $46.35. The company's 50-day moving average is $41.68 and its 200 day moving average is $40.28. The firm has a market cap of $1.86 billion, a PE ratio of 15.96 and a beta of 1.34.

La-Z-Boy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a $0.22 dividend. This is a boost from La-Z-Boy's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, December 5th. La-Z-Boy's dividend payout ratio is 27.68%.

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.