Commerce Bank Makes New $264,000 Investment in La-Z-Boy Incorporated (NYSE:LZB)

Commerce Bank bought a new position in shares of La-Z-Boy Incorporated (NYSE:LZB) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,161 shares of the company’s stock, valued at approximately $264,000.

A number of other large investors have also recently added to or reduced their stakes in LZB. Texas Permanent School Fund Corp boosted its position in shares of La-Z-Boy by 32.0% in the second quarter. Texas Permanent School Fund Corp now owns 49,422 shares of the company’s stock valued at $1,842,000 after acquiring an additional 11,981 shares during the period. Squarepoint Ops LLC boosted its position 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 during the period. XTX Topco Ltd bought a new stake in shares of La-Z-Boy in the second quarter valued at approximately $740,000. Price T Rowe Associates Inc. MD boosted its position in shares of La-Z-Boy by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 64,436 shares of the company’s stock valued at $2,425,000 after acquiring an additional 2,717 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of La-Z-Boy by 85.8% in the third quarter. Victory Capital Management Inc. now owns 45,267 shares of the company’s stock valued at $1,943,000 after acquiring an additional 20,900 shares during the period. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Price Performance

Shares of LZB stock opened at $45.19 on Thursday. The stock has a market cap of $1.87 billion, a P/E ratio of 15.66 and a beta of 1.29. La-Z-Boy Incorporated has a one year low of $30.76 and a one year high of $46.35. The stock has a fifty day moving average price of $41.37 and a 200 day moving average price of $39.91.

La-Z-Boy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 5th. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.95%. La-Z-Boy’s dividend payout ratio (DPR) is presently 27.68%.

Insider Activity at La-Z-Boy

In related news, Director Janet Kerr sold 3,890 shares of La-Z-Boy stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $40.89, for a total value of $159,062.10. Following the completion of the transaction, the director now directly owns 3,372 shares of the company’s stock, valued at $137,881.08. The trade was a 53.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.