Meeder Asset Management Inc. Increases Stake in La-Z-Boy Incorporated (NYSE:LZB)

Meeder Asset Management Inc. raised its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 16.9% during the 4th quarter, HoldingsChannel reports. The fund owned 39,539 shares of the company’s stock after acquiring an additional 5,728 shares during the quarter. Meeder Asset Management Inc.’s holdings in La-Z-Boy were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in La-Z-Boy by 321.1% during the fourth quarter. Wellington Management Group LLP now owns 311,578 shares of the company’s stock valued at $13,575,000 after acquiring an additional 237,578 shares in the last quarter. Weiss Asset Management LP bought a new stake in La-Z-Boy in the third quarter worth about $5,988,000. Norges Bank purchased a new position in shares of La-Z-Boy during the fourth quarter valued at approximately $5,786,000. Teacher Retirement System of Texas boosted its holdings in La-Z-Boy by 338.4% during the 4th quarter. Teacher Retirement System of Texas now owns 163,713 shares of the company’s stock valued at $7,133,000 after acquiring an additional 126,371 shares during the period. Finally, abrdn plc lifted its position in shares of La-Z-Boy by 38.1% during the fourth quarter. abrdn plc now owns 347,589 shares of the company’s stock worth $15,148,000 after purchasing an additional 95,812 shares during the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

La-Z-Boy Trading Down 3.5 %

Shares of LZB opened at $38.69 on Monday. La-Z-Boy Incorporated has a 12-month low of $32.00 and a 12-month high of $48.31. The firm has a fifty day moving average price of $43.41 and a 200-day moving average price of $42.85. The firm has a market capitalization of $1.60 billion, a P/E ratio of 13.30 and a beta of 1.38.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates 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. Analysts predict that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Tuesday, March 4th. La-Z-Boy’s dividend payout ratio is 30.24%.

La-Z-Boy 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.