Teacher Retirement System of Texas Has $7.13 Million Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Teacher Retirement System of Texas boosted its stake in La-Z-Boy Incorporated (NYSE:LZB) by 338.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,713 shares of the company’s stock after purchasing an additional 126,371 shares during the quarter. Teacher Retirement System of Texas owned about 0.39% of La-Z-Boy worth $7,133,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LZB. Victory Capital Management Inc. raised its position in shares of La-Z-Boy by 85.8% in the 3rd quarter. Victory Capital Management Inc. now owns 45,267 shares of the company’s stock valued at $1,943,000 after buying an additional 20,900 shares in the last quarter. Natixis Advisors LLC raised its position in shares of La-Z-Boy by 11.4% in the 3rd quarter. Natixis Advisors LLC now owns 24,349 shares of the company’s stock valued at $1,045,000 after buying an additional 2,489 shares in the last quarter. Quest Partners LLC lifted its stake in La-Z-Boy by 382.4% during the third quarter. Quest Partners LLC now owns 11,837 shares of the company’s stock worth $508,000 after purchasing an additional 9,383 shares during the last quarter. Commerce Bank acquired a new stake in shares of La-Z-Boy in the 3rd quarter valued at $264,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of La-Z-Boy in the 3rd quarter valued at $1,060,000. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Performance

La-Z-Boy stock opened at $38.45 on Friday. The stock has a fifty day moving average of $43.89 and a 200-day moving average of $42.85. The stock has a market capitalization of $1.59 billion, a P/E ratio of 13.21 and a beta of 1.38. La-Z-Boy Incorporated has a 52 week low of $32.00 and a 52 week high of $48.31.

La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $516.47 million. On average, research analysts forecast that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Tuesday, March 4th. La-Z-Boy’s dividend payout ratio is presently 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.