abrdn plc Buys 95,812 Shares of La-Z-Boy Incorporated (NYSE:LZB)

abrdn plc lifted its stake in La-Z-Boy Incorporated (NYSE:LZB) by 38.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 347,589 shares of the company’s stock after purchasing an additional 95,812 shares during the period. abrdn plc’s holdings in La-Z-Boy were worth $15,148,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Weiss Asset Management LP purchased a new position in La-Z-Boy during the third quarter valued at $5,988,000. Millennium Management LLC boosted its stake in 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 acquiring an additional 97,023 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in La-Z-Boy in the third quarter worth about $3,684,000. Wellington Management Group LLP bought a new position in shares of La-Z-Boy during the third quarter valued at approximately $3,177,000. Finally, Barclays PLC lifted its holdings in shares of La-Z-Boy by 244.6% during the third quarter. Barclays PLC now owns 75,256 shares of the company’s stock valued at $3,230,000 after purchasing an additional 53,419 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Down 4.8 %

LZB stock opened at $44.70 on Friday. The business has a 50 day moving average of $44.69 and a 200 day moving average of $42.61. The firm has a market cap of $1.85 billion, a PE ratio of 15.47 and a beta of 1.35. La-Z-Boy Incorporated has a twelve month low of $32.00 and a twelve month high of $48.31.

La-Z-Boy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors 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 was Thursday, December 5th. This represents a $0.88 dividend on an annualized basis and a yield of 1.97%. La-Z-Boy’s 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.