La-Z-Boy Incorporated (NYSE:LZB) Shares Bought by abrdn plc

abrdn plc raised its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB - Free Report) by 38.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 347,589 shares of the company's stock after purchasing an additional 95,812 shares during the quarter. abrdn plc owned 0.84% of La-Z-Boy worth $15,148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in shares of La-Z-Boy by 3.1% during the second quarter. The Manufacturers Life Insurance Company now owns 22,059 shares of the company's stock valued at $822,000 after buying an additional 672 shares during the period. Assetmark Inc. purchased a new position in La-Z-Boy during the 3rd quarter valued at about $30,000. KBC Group NV raised its holdings in shares of La-Z-Boy by 8.3% in the 4th quarter. KBC Group NV now owns 9,593 shares of the company's stock valued at $418,000 after purchasing an additional 734 shares in the last quarter. TD Private Client Wealth LLC purchased a new stake in shares of La-Z-Boy in the 3rd quarter worth approximately $43,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of La-Z-Boy by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,146 shares of the company's stock valued at $478,000 after purchasing an additional 1,008 shares in the last quarter. 99.62% of the stock is owned by hedge funds and other institutional investors.

La-Z-Boy Stock Performance

LZB stock traded up $0.45 on Tuesday, hitting $45.18. 482,262 shares of the company's stock were exchanged, compared to its average volume of 399,895. The firm has a 50 day moving average price of $44.66 and a two-hundred day moving average price of $42.66. La-Z-Boy Incorporated has a 12-month low of $32.00 and a 12-month high of $48.31. The stock has a market cap of $1.87 billion, a P/E ratio of 15.63 and a beta of 1.35.

La-Z-Boy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.95%. This is an increase from La-Z-Boy's previous quarterly dividend of $0.20. The ex-dividend date was Thursday, December 5th. La-Z-Boy's dividend 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.