La-Z-Boy (NYSE:LZB) Sets New 12-Month High – Here’s Why

Shares of La-Z-Boy Incorporated (NYSE:LZB) reached a new 52-week high during trading on Wednesday . The stock traded as high as $46.54 and last traded at $46.51, with a volume of 230562 shares traded. The stock had previously closed at $45.73.

La-Z-Boy Trading Up 1.9 %

The firm has a 50 day moving average price of $44.36 and a two-hundred day moving average price of $42.37. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 16.12 and a beta of 1.35.

La-Z-Boy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were paid a $0.22 dividend. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.88 annualized dividend and a dividend yield of 1.89%. La-Z-Boy’s dividend payout ratio is presently 30.45%.

Hedge Funds Weigh In On La-Z-Boy

A number of large investors have recently made changes to their positions in LZB. Assetmark Inc. acquired a new stake in shares of La-Z-Boy during the 3rd quarter worth about $30,000. TD Private Client Wealth LLC acquired a new stake in shares of La-Z-Boy in the third quarter valued at $43,000. Quarry LP raised its holdings in shares of La-Z-Boy by 2,550.0% in the second quarter. Quarry LP now owns 1,378 shares of the company’s stock valued at $51,000 after buying an additional 1,326 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of La-Z-Boy by 176.5% during the third quarter. Advisors Asset Management Inc. now owns 3,973 shares of the company’s stock valued at $171,000 after purchasing an additional 2,536 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of La-Z-Boy in the third quarter valued at approximately $245,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

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.