La-Z-Boy (NYSE:LZB) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

La-Z-Boy Incorporated (NYSE:LZB)’s stock price 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 trading hands.

La-Z-Boy Price Performance

The stock’s 50 day moving average is $43.39 and its two-hundred day moving average is $41.62. The stock has a market capitalization of $1.79 billion, a PE ratio of 14.92 and a beta of 1.35.

La-Z-Boy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were paid 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 of this dividend was Thursday, December 5th. This represents a $0.88 annualized dividend and a yield of 2.04%. La-Z-Boy’s payout ratio is presently 30.45%.

Hedge Funds Weigh In On La-Z-Boy

Several hedge funds have recently added to or reduced their stakes in LZB. abrdn plc acquired a new position in shares of La-Z-Boy in the 3rd quarter valued at $10,809,000. Weiss Asset Management LP acquired a new position in La-Z-Boy in the third quarter valued at $5,988,000. American Century Companies Inc. boosted its stake in La-Z-Boy by 14.5% in the second 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 grew its holdings in shares of La-Z-Boy by 263.6% during the second 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 during the last quarter. Finally, Pacer Advisors Inc. increased 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 in the last quarter. 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.