Alliancebernstein L.P. Buys 301 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Alliancebernstein L.P. boosted its position in La-Z-Boy Incorporated (NYSE:LZB) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,545 shares of the company’s stock after buying an additional 301 shares during the quarter. Alliancebernstein L.P. owned approximately 0.12% of La-Z-Boy worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in LZB. Smartleaf Asset Management LLC lifted its position in shares of La-Z-Boy by 244.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 658 shares of the company’s stock worth $29,000 after acquiring an additional 467 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in La-Z-Boy during the 4th quarter worth about $51,000. O Shaughnessy Asset Management LLC grew its holdings in La-Z-Boy by 7.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,282 shares of the company’s stock valued at $274,000 after buying an additional 457 shares in the last quarter. Verity Asset Management Inc. bought a new stake in shares of La-Z-Boy during the fourth quarter valued at about $275,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of La-Z-Boy in the fourth quarter valued at approximately $349,000. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Trading Down 0.9 %

La-Z-Boy stock opened at $37.71 on Thursday. The firm’s 50 day simple moving average is $41.16 and its 200 day simple moving average is $42.43. 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 capitalization of $1.56 billion, a PE ratio of 12.96 and a beta of 1.31.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. The business had revenue of $521.78 million during the quarter, compared to analysts’ expectations of $516.47 million. Research analysts forecast 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 was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a dividend of $0.22 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.88 dividend on an annualized basis and a yield of 2.33%. 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.