Assetmark Inc. Makes New Investment in La-Z-Boy Incorporated (NYSE:LZB)

Assetmark Inc. purchased a new position in La-Z-Boy Incorporated (NYSE:LZB) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 699 shares of the company’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LZB. Texas Permanent School Fund Corp boosted its stake in shares of La-Z-Boy by 32.0% during the second quarter. Texas Permanent School Fund Corp now owns 49,422 shares of the company’s stock valued at $1,842,000 after purchasing an additional 11,981 shares during the period. Squarepoint Ops LLC raised its holdings in shares of La-Z-Boy by 263.6% in the second quarter. Squarepoint Ops LLC now owns 150,617 shares of the company’s stock valued at $5,615,000 after acquiring an additional 109,188 shares in the last quarter. XTX Topco Ltd purchased a new position in La-Z-Boy during the 2nd quarter valued at about $740,000. Price T Rowe Associates Inc. MD lifted its position in shares of La-Z-Boy by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 64,436 shares of the company’s stock worth $2,425,000 after purchasing an additional 2,717 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in La-Z-Boy during the second quarter valued at approximately $3,501,000. 99.62% of the stock is owned by institutional investors.

La-Z-Boy Trading Down 1.2 %

Shares of LZB stock opened at $42.25 on Wednesday. The company has a market cap of $1.77 billion, a PE ratio of 15.04 and a beta of 1.29. La-Z-Boy Incorporated has a 12-month low of $30.76 and a 12-month high of $45.23. The business’s fifty day simple moving average is $41.12 and its 200-day simple moving average is $39.57.

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

Analyst Ratings Changes

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

Insider Buying and Selling at La-Z-Boy

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

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.