Amalgamated Bank Sells 527 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Amalgamated Bank decreased its stake in La-Z-Boy Incorporated (NYSE:LZB) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,528 shares of the company’s stock after selling 527 shares during the period. Amalgamated Bank’s holdings in La-Z-Boy were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in La-Z-Boy in the first quarter valued at approximately $70,000. Sei Investments Co. increased its position in La-Z-Boy by 26.6% in the first quarter. Sei Investments Co. now owns 15,309 shares of the company’s stock worth $576,000 after buying an additional 3,219 shares during the last quarter. Russell Investments Group Ltd. increased its position in La-Z-Boy by 26.5% in the first quarter. Russell Investments Group Ltd. now owns 46,019 shares of the company’s stock worth $1,731,000 after buying an additional 9,635 shares during the last quarter. ProShare Advisors LLC grew its position in shares of La-Z-Boy by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,742 shares of the company’s stock valued at $329,000 after purchasing an additional 599 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of La-Z-Boy by 7.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 27,479 shares of the company’s stock valued at $1,034,000 after purchasing an additional 1,975 shares in the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

Insider Buying and Selling at La-Z-Boy

In other La-Z-Boy news, CAO Jennifer Lynn Mccurry sold 4,414 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $41.31, for a total transaction of $182,342.34. Following the transaction, the chief accounting officer now owns 13,236 shares in the company, valued at approximately $546,779.16. This represents a 25.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janet Kerr sold 3,890 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $40.89, for a total value of $159,062.10. Following the transaction, the director now owns 3,372 shares in the company, valued at $137,881.08. This trade represents a 53.57 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

La-Z-Boy Trading Down 0.7 %

NYSE LZB opened at $42.79 on Friday. La-Z-Boy Incorporated has a 1-year low of $30.68 and a 1-year high of $45.23. The stock has a 50-day moving average of $40.97 and a 200-day moving average of $39.39. The firm has a market cap of $1.79 billion, a PE ratio of 15.23 and a beta of 1.29.

La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, August 20th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. La-Z-Boy had a return on equity of 12.90% and a net margin of 5.89%. The company had revenue of $495.50 million during the quarter, compared to analyst estimates of $482.23 million. During the same quarter in the previous year, the company posted $0.62 EPS. La-Z-Boy’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that La-Z-Boy Incorporated will post 2.98 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date was Thursday, September 5th. La-Z-Boy’s payout ratio is 28.47%.

Wall Street Analyst Weigh In

Separately, Sidoti cut La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 target price for the company. in a research report on Wednesday, August 21st.

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.