La-Z-Boy Incorporated (NYSE:LZB) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC increased its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 5.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 25,856 shares of the company’s stock after buying an additional 1,231 shares during the period. MetLife Investment Management LLC’s holdings in La-Z-Boy were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in shares of La-Z-Boy by 244.5% in 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 during the period. Venturi Wealth Management LLC purchased a new stake in La-Z-Boy in the fourth quarter valued at $51,000. Bank of Montreal Can acquired a new stake in La-Z-Boy during the 4th quarter worth about $203,000. O Shaughnessy Asset Management LLC raised its stake in shares of 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 during the last quarter. Finally, Verity Asset Management Inc. acquired a new position in shares of La-Z-Boy in the 4th quarter valued at about $275,000. 99.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, KeyCorp upgraded La-Z-Boy from a “sector weight” rating to an “overweight” rating and set a $46.00 price target for the company in a research report on Friday, April 25th.

La-Z-Boy Stock Performance

LZB stock opened at $39.97 on Friday. La-Z-Boy Incorporated has a one year low of $32.52 and a one year high of $48.31. The firm’s fifty day moving average is $39.60 and its 200 day moving average is $42.25. The firm has a market cap of $1.65 billion, a PE ratio of 13.74 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, beating analysts’ consensus estimates of $0.67 by $0.01. The firm had revenue of $521.78 million for 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%. Research analysts predict that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.20%. La-Z-Boy’s dividend payout ratio (DPR) is 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.