Mutual of America Capital Management LLC Has $272,000 Position in La-Z-Boy Incorporated (NYSE:LZB)

Mutual of America Capital Management LLC trimmed its stake in La-Z-Boy Incorporated (NYSE:LZB) by 9.7% in the third quarter, HoldingsChannel reports. The firm owned 6,326 shares of the company’s stock after selling 683 shares during the period. Mutual of America Capital Management LLC’s holdings in La-Z-Boy were worth $272,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. abrdn plc acquired a new position in La-Z-Boy during the 3rd quarter worth approximately $10,809,000. American Century Companies Inc. lifted its position in La-Z-Boy by 14.5% in the 2nd quarter. American Century Companies Inc. now owns 982,668 shares of the company’s stock valued at $36,634,000 after acquiring an additional 124,409 shares in the last quarter. Squarepoint Ops LLC increased its holdings in La-Z-Boy by 263.6% during the 2nd quarter. Squarepoint Ops LLC now owns 150,617 shares of the company’s stock worth $5,615,000 after purchasing an additional 109,188 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of La-Z-Boy by 7.5% in 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 last quarter. Finally, Millennium Management LLC lifted its stake in La-Z-Boy by 125.6% during the 2nd quarter. Millennium Management LLC now owns 174,249 shares of the company’s stock valued at $6,496,000 after acquiring an additional 97,023 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

La-Z-Boy Stock Down 0.3 %

NYSE LZB opened at $45.14 on Friday. La-Z-Boy Incorporated has a 12-month low of $30.76 and a 12-month high of $46.35. The company’s 50 day moving average is $41.42 and its 200-day moving average is $39.95. The firm has a market cap of $1.87 billion, a P/E ratio of 15.62 and a beta of 1.29.

La-Z-Boy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be issued a dividend of $0.22 per share. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, December 5th. This represents a $0.88 dividend on an annualized basis and a yield of 1.95%. La-Z-Boy’s dividend payout ratio is 27.68%.

Insiders Place Their Bets

In related news, Director Janet Kerr sold 3,890 shares of the company’s stock in a transaction that occurred on 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 owns 3,372 shares of the company’s stock, valued at approximately $137,881.08. This represents a 53.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by corporate insiders.

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.