Cardinal Capital Management Acquires 5,563 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Cardinal Capital Management raised its holdings in La-Z-Boy Incorporated (NYSE:LZB) by 18.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,442 shares of the company’s stock after purchasing an additional 5,563 shares during the quarter. Cardinal Capital Management owned 0.08% of La-Z-Boy worth $1,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of La-Z-Boy during the 4th quarter worth $35,000. Vest Financial LLC bought a new position in shares of La-Z-Boy during the 4th quarter worth $241,000. Quadrature Capital Ltd bought a new position in shares of La-Z-Boy during the 3rd quarter worth $251,000. ARGA Investment Management LP bought a new position in shares of La-Z-Boy during the 4th quarter worth $692,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of La-Z-Boy by 7.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,128 shares of the company’s stock worth $743,000 after acquiring an additional 1,457 shares during the period. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Performance

LZB stock opened at $36.35 on Friday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 12.84 and a beta of 1.25. La-Z-Boy Incorporated has a fifty-two week low of $26.95 and a fifty-two week high of $41.08. The stock has a fifty day moving average of $35.49 and a 200-day moving average of $36.05.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, June 18th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.25. The company had revenue of $553.54 million during the quarter, compared to the consensus estimate of $516.44 million. La-Z-Boy had a return on equity of 13.10% and a net margin of 5.99%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 EPS. Equities analysts predict that La-Z-Boy Incorporated will post 3.13 EPS for the current year.

La-Z-Boy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, June 4th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.80 dividend on an annualized basis and a yield of 2.20%. La-Z-Boy’s dividend payout ratio (DPR) is 28.27%.

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.