JERSEY CITY, N.J. — New York Life Investment Management LLC, an asset management business, obtained a significant share in La-Z-Boy Inc. 

The company’s latest filing with the Securities and Exchange Commission showed the purchase of 16,999 shares at a value of $486,000 in La-Z-Boy’s stock. 

On June 21, La-Z-Boy released a quarterly report showing that it earned 99 cents per share, exceeding market expectations by 27 cents. The company also showed a return on equity of 18.59% and a net margin of 6.41%. Market analysts predict that the company will grow and post earnings per share of 2.8 during the fiscal year, despite facing a decline of 18% last year to $561.29 million. 

La-Z-Boy is an FDMC300 listed company, ranking #13 in the listing of top North American wood products companies. 

Besides New York Life Investment Management LLC, other large investors have shown growing interest in La-Z-Boy, according to a coverage report by stocknews.com. 

Federated Hermes Inc. increased its holdings in the furniture company by 11,058.3%, and owns 1,399 shares of stock with an estimated value of $39,000. 

During this period, Captrust Financial Advisors took action by increasing its holding in La-Z-Boy by approximately 84.7%. Its ownership now includes 3,290 shares worth $87,000. 

Piont72 Middle East FZE purchased a stake in La-Z-Boy valued at $80,000. Point72 Hong Kong also increased its holdings in La-Z-Boy during the first quarter by 540.7%. It now owns 4,363 shares worth $115,000. 

The State of Wyoming also increased its holdings by 406.4% during the fourth quarter, and currently owns 4,573 shares worth $104,000 of La-Z-Boy. 

Currently, investors own 96.61% of La-Z-Boy’s stock. The fifty-day moving average is $29.66, and the 200-day average is slightly above $29.01. The company itself is a significant player in the furniture industry with a value of $1.37 billion. 

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