Norges Bank Takes Position in La-Z-Boy Incorporated (NYSE:LZB)

Norges Bank purchased a new position in shares of La-Z-Boy Incorporated (NYSE:LZB) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 132,798 shares of the company’s stock, valued at approximately $5,786,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of La-Z-Boy by 16.0% in the third quarter. FMR LLC now owns 74,009 shares of the company’s stock valued at $3,177,000 after buying an additional 10,195 shares in the last quarter. Captrust Financial Advisors bought a new position in La-Z-Boy in the 3rd quarter valued at about $370,000. State Street Corp boosted its stake in La-Z-Boy by 0.4% during the 3rd quarter. State Street Corp now owns 1,672,009 shares of the company’s stock valued at $71,779,000 after purchasing an additional 6,925 shares during the last quarter. Wellington Management Group LLP bought a new stake in La-Z-Boy during the 3rd quarter worth approximately $3,177,000. Finally, Barclays PLC raised its stake in shares of La-Z-Boy by 244.6% in the third quarter. Barclays PLC now owns 75,256 shares of the company’s stock worth $3,230,000 after purchasing an additional 53,419 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Up 9.4 %

LZB stock opened at $39.02 on Thursday. The stock’s 50 day moving average is $41.81 and its 200-day moving average is $42.53. La-Z-Boy Incorporated has a twelve month low of $32.00 and a twelve month high of $48.31. The firm has a market capitalization of $1.61 billion, a PE ratio of 13.41 and a beta of 1.31.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. The company had revenue of $521.78 million during the quarter, compared to the consensus estimate of $516.47 million. On average, equities research analysts anticipate that La-Z-Boy Incorporated will post 2.99 earnings per share for the current fiscal year.

La-Z-Boy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.88 annualized dividend and a dividend yield of 2.26%. La-Z-Boy’s dividend payout ratio is currently 30.24%.

La-Z-Boy 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.