La-Z-Boy (NYSE:LZB) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of La-Z-Boy Incorporated (NYSE:LZB) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $41.61 and traded as high as $44.50. La-Z-Boy shares last traded at $43.31, with a volume of 441,620 shares changing hands.

La-Z-Boy Price Performance

The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 14.92 and a beta of 1.35. The firm has a fifty day moving average of $43.39 and a 200 day moving average of $41.62.

La-Z-Boy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Thursday, December 5th. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.20. La-Z-Boy’s payout ratio is currently 30.45%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. purchased a new position in shares of La-Z-Boy during the 3rd quarter worth approximately $30,000. TD Private Client Wealth LLC acquired a new stake in shares of La-Z-Boy in the third quarter valued at $43,000. Quarry LP raised its holdings in shares of La-Z-Boy by 2,550.0% in the 2nd 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 period. Canada Pension Plan Investment Board acquired a new position in La-Z-Boy during the 2nd quarter worth about $63,000. Finally, Quest Partners LLC purchased a new position in La-Z-Boy during the 2nd quarter valued at about $91,000. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

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.