Intech Investment Management LLC Has $769,000 Stock Position in La-Z-Boy Incorporated (NYSE:LZB)

Intech Investment Management LLC boosted its position in shares of La-Z-Boy Incorporated (NYSE:LZB) by 9.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,914 shares of the company’s stock after purchasing an additional 1,574 shares during the period. Intech Investment Management LLC’s holdings in La-Z-Boy were worth $769,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of La-Z-Boy by 7.5% during the second quarter. Pacer Advisors Inc. now owns 1,394,677 shares of the company’s stock worth $51,994,000 after purchasing an additional 97,680 shares during the last quarter. American Century Companies Inc. grew its holdings in La-Z-Boy by 14.5% during the 2nd quarter. American Century Companies Inc. now owns 982,668 shares of the company’s stock worth $36,634,000 after acquiring an additional 124,409 shares during the last quarter. abrdn plc acquired a new stake in La-Z-Boy in the 3rd quarter valued at about $10,809,000. Empowered Funds LLC raised its stake in shares of La-Z-Boy by 5.4% in the third quarter. Empowered Funds LLC now owns 202,786 shares of the company’s stock worth $8,706,000 after acquiring an additional 10,318 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of La-Z-Boy by 125.6% during the second quarter. Millennium Management LLC now owns 174,249 shares of the company’s stock worth $6,496,000 after purchasing an additional 97,023 shares in the last quarter. 99.62% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Janet Kerr sold 3,890 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $40.89, for a total transaction of $159,062.10. Following the completion of the transaction, the director now directly owns 3,372 shares in the company, valued at approximately $137,881.08. The trade was a 53.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Sidoti lowered shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Wednesday, August 21st.

La-Z-Boy Stock Up 0.3 %

Shares of LZB opened at $45.27 on Friday. The stock’s fifty day simple moving average is $41.48 and its 200-day simple moving average is $40.05. The firm has a market capitalization of $1.88 billion, a PE ratio of 15.66 and a beta of 1.29. La-Z-Boy Incorporated has a 12-month low of $32.00 and a 12-month high of $46.35.

La-Z-Boy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, December 5th. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 1.94%. La-Z-Boy’s dividend payout ratio is presently 30.45%.

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.