Nisa Investment Advisors LLC Trims Stock Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Nisa Investment Advisors LLC trimmed its position in La-Z-Boy Incorporated (NYSE:LZB) by 33.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 15,130 shares of the company’s stock after selling 7,522 shares during the period. Nisa Investment Advisors LLC’s holdings in La-Z-Boy were worth $559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. boosted its holdings in La-Z-Boy by 86.8% in the third quarter. Landscape Capital Management L.L.C. now owns 43,135 shares of the company’s stock worth $1,332,000 after acquiring an additional 20,046 shares in the last quarter. American Century Companies Inc. boosted its holdings in La-Z-Boy by 22.7% in the third quarter. American Century Companies Inc. now owns 588,258 shares of the company’s stock worth $18,165,000 after acquiring an additional 108,945 shares in the last quarter. Schroder Investment Management Group bought a new stake in La-Z-Boy in the third quarter worth $21,100,000. Quadrature Capital Ltd bought a new stake in La-Z-Boy in the third quarter worth $251,000. Finally, Pacer Advisors Inc. boosted its holdings in La-Z-Boy by 21.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,106,430 shares of the company’s stock worth $40,849,000 after acquiring an additional 192,546 shares in the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Michael Adam Leggett sold 3,077 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $37.08, for a total transaction of $114,095.16. Following the transaction, the senior vice president now directly owns 21,519 shares of the company’s stock, valued at $797,924.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.70% of the company’s stock.

La-Z-Boy Price Performance

Shares of NYSE:LZB opened at $32.69 on Thursday. The company has a market cap of $1.39 billion, a P/E ratio of 12.06 and a beta of 1.16. La-Z-Boy Incorporated has a 1 year low of $25.12 and a 1 year high of $39.87. The stock’s fifty day moving average price is $36.54 and its 200-day moving average price is $34.48.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). The business had revenue of $500.40 million for the quarter, compared to the consensus estimate of $523.09 million. La-Z-Boy had a net margin of 5.73% and a return on equity of 13.55%. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. On average, sell-side analysts anticipate that La-Z-Boy Incorporated will post 2.72 earnings per share for the current year.

La-Z-Boy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, March 4th. La-Z-Boy’s payout ratio is currently 29.52%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a report 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.