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

Intech Investment Management LLC increased its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 9.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 17,914 shares of the company’s stock after acquiring an additional 1,574 shares during the quarter. Intech Investment Management LLC’s holdings in La-Z-Boy were worth $769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position 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 period. American Century Companies Inc. increased its stake 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 purchasing an additional 124,409 shares in the last quarter. abrdn plc bought a new stake in La-Z-Boy during the 3rd quarter worth approximately $10,809,000. Empowered Funds LLC raised its holdings in La-Z-Boy by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 202,786 shares of the company’s stock worth $8,706,000 after buying an additional 10,318 shares during the period. Finally, Millennium Management LLC lifted its stake in La-Z-Boy by 125.6% in the second quarter. Millennium Management LLC now owns 174,249 shares of the company’s stock valued at $6,496,000 after buying an additional 97,023 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors.

La-Z-Boy Price Performance

LZB opened at $45.27 on Friday. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 15.66 and a beta of 1.29. The business’s 50-day moving average price is $41.48 and its two-hundred day moving average price is $40.05. La-Z-Boy Incorporated has a 1 year low of $32.00 and a 1 year high of $46.35.

La-Z-Boy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, December 5th. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.20. La-Z-Boy’s dividend payout ratio (DPR) is currently 30.45%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at La-Z-Boy

In other La-Z-Boy news, Director Janet Kerr sold 3,890 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $40.89, for a total transaction of $159,062.10. Following the sale, the director now directly owns 3,372 shares of the company’s stock, valued at $137,881.08. The trade was a 53.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.70% of the company’s stock.

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.