Access Investment Management LLC Has $4.64 Million Stock Holdings in La-Z-Boy Incorporated (NYSE:LZB)

Access Investment Management LLC trimmed its position in La-Z-Boy Incorporated (NYSE:LZB) by 8.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 106,535 shares of the company’s stock after selling 9,400 shares during the period. La-Z-Boy comprises approximately 1.3% of Access Investment Management LLC’s portfolio, making the stock its 24th largest holding. Access Investment Management LLC’s holdings in La-Z-Boy were worth $4,642,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new stake in La-Z-Boy in the third quarter worth about $30,000. KBC Group NV lifted its holdings in shares of La-Z-Boy by 8.3% during the 4th quarter. KBC Group NV now owns 9,593 shares of the company’s stock valued at $418,000 after purchasing an additional 734 shares in the last quarter. TD Private Client Wealth LLC bought a new position in shares of La-Z-Boy during the 3rd quarter valued at about $43,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in La-Z-Boy by 9.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,146 shares of the company’s stock valued at $478,000 after acquiring an additional 1,008 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of La-Z-Boy during the 4th quarter worth approximately $51,000. 99.62% of the stock is currently owned by institutional investors and hedge funds.

La-Z-Boy Stock Up 0.7 %

NYSE:LZB opened at $44.88 on Friday. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.42 and a beta of 1.35. La-Z-Boy Incorporated has a twelve month low of $32.00 and a twelve month high of $48.31. The stock’s 50 day moving average price is $44.73 and its two-hundred day moving average price is $42.81.

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

La-Z-Boy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a $0.22 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.96%. La-Z-Boy’s dividend payout ratio (DPR) is currently 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.