La-Z-Boy Incorporated (NYSE:LZB) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its stake in La-Z-Boy Incorporated (NYSE:LZB) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 160,292 shares of the company’s stock after purchasing an additional 1,818 shares during the period. Rhumbline Advisers owned about 0.39% of La-Z-Boy worth $6,984,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LZB. Verity Asset Management Inc. purchased a new stake in shares of La-Z-Boy during the 4th quarter worth $275,000. Victory Capital Management Inc. grew its holdings in shares of La-Z-Boy by 85.8% during the third quarter. Victory Capital Management Inc. now owns 45,267 shares of the company’s stock worth $1,943,000 after purchasing an additional 20,900 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in La-Z-Boy by 67.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 143,949 shares of the company’s stock worth $6,272,000 after buying an additional 58,146 shares during the period. abrdn plc increased its holdings in shares of La-Z-Boy by 38.1% in the 4th quarter. abrdn plc now owns 347,589 shares of the company’s stock valued at $15,148,000 after acquiring an additional 95,812 shares during the period. Finally, Wellington Management Group LLP acquired a new position in La-Z-Boy in the third quarter valued at $3,177,000. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Performance

Shares of LZB opened at $45.93 on Wednesday. The firm has a 50-day simple moving average of $44.77 and a 200-day simple moving average of $42.87. La-Z-Boy Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $48.31. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 15.78 and a beta of 1.35.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, February 18th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. La-Z-Boy had a net margin of 5.92% and a return on equity of 12.38%. The business had revenue of $521.78 million for the quarter, compared to the consensus estimate of $516.47 million. Equities research analysts forecast that La-Z-Boy Incorporated will post 2.99 EPS for the current year.

La-Z-Boy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Tuesday, March 4th. La-Z-Boy’s dividend payout ratio (DPR) is currently 30.24%.

La-Z-Boy Company Profile

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.