La-Z-Boy (NYSE:LZB) Reaches New 1-Year High – Should You Buy?

La-Z-Boy Incorporated (NYSE:LZB)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $46.54 and last traded at $46.51, with a volume of 230562 shares trading hands. The stock had previously closed at $45.73.

La-Z-Boy Stock Up 1.9 %

The firm has a 50 day moving average of $44.36 and a 200 day moving average of $42.37. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 16.12 and a beta of 1.35.

La-Z-Boy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were paid a $0.22 dividend. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.89%. The ex-dividend date was Thursday, December 5th. La-Z-Boy’s payout ratio is 30.45%.

Institutional Trading of La-Z-Boy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LZB. Assetmark Inc. acquired a new position in shares of La-Z-Boy during the third quarter worth approximately $30,000. TD Private Client Wealth LLC bought a new position in shares of La-Z-Boy in the third quarter valued at $43,000. Quarry LP grew its holdings in shares of La-Z-Boy by 2,550.0% during the second quarter. Quarry LP now owns 1,378 shares of the company’s stock valued at $51,000 after buying an additional 1,326 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of La-Z-Boy by 176.5% during the third quarter. Advisors Asset Management Inc. now owns 3,973 shares of the company’s stock worth $171,000 after acquiring an additional 2,536 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new position in La-Z-Boy in the 3rd quarter valued at about $245,000. 99.62% of the stock is owned by institutional investors.

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.