Bank of New York Mellon Corp Purchases 9,383 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Bank of New York Mellon Corp raised its holdings in La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 471,642 shares of the company's stock after purchasing an additional 9,383 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.14% of La-Z-Boy worth $20,549,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LZB. Assetmark Inc. acquired a new stake in shares of La-Z-Boy in the third quarter valued at $30,000. TD Private Client Wealth LLC acquired a new stake in La-Z-Boy in the 3rd quarter valued at about $43,000. Venturi Wealth Management LLC bought a new position in shares of La-Z-Boy in the fourth quarter worth about $51,000. Advisors Asset Management Inc. raised its stake in shares of La-Z-Boy by 176.5% in the third quarter. Advisors Asset Management Inc. now owns 3,973 shares of the company's stock worth $171,000 after acquiring an additional 2,536 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in shares of La-Z-Boy during the third quarter worth approximately $245,000. Institutional investors and hedge funds own 99.62% of the company's stock.

La-Z-Boy Trading Down 1.6 %

Shares of La-Z-Boy stock traded down $0.67 during midday trading on Wednesday, reaching $39.95. The company had a trading volume of 137,848 shares, compared to its average volume of 439,761. The stock has a fifty day simple moving average of $44.66 and a 200 day simple moving average of $42.99. La-Z-Boy Incorporated has a 1-year low of $32.00 and a 1-year high of $48.31. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 13.74 and a beta of 1.38.

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La-Z-Boy (NYSE:LZB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The firm 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 expect that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.20%. La-Z-Boy's dividend payout ratio is 30.24%.

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.