La-Z-Boy (NYSE:LZB) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

La-Z-Boy Incorporated (NYSE:LZB) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 has a market capitalization of $1.80 billion, a P/E ratio of 14.99 and a beta of 1.35. The business’s 50 day moving average price is $43.31 and its 200 day moving average price is $41.61.

La-Z-Boy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, December 5th. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 2.03%. La-Z-Boy’s payout ratio is currently 30.45%.

Hedge Funds Weigh In On La-Z-Boy

A number of institutional investors and hedge funds have recently modified their holdings of LZB. Quest Partners LLC bought a new position in La-Z-Boy in the second quarter valued at about $91,000. Choreo LLC bought a new position in shares of La-Z-Boy in the 2nd quarter worth approximately $433,000. Texas Permanent School Fund Corp boosted its holdings in shares of La-Z-Boy by 32.0% in the second quarter. Texas Permanent School Fund Corp now owns 49,422 shares of the company’s stock worth $1,842,000 after buying an additional 11,981 shares during the last quarter. American Century Companies Inc. grew its position in La-Z-Boy by 14.5% during the second quarter. American Century Companies Inc. now owns 982,668 shares of the company’s stock valued at $36,634,000 after buying an additional 124,409 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in La-Z-Boy during the second quarter valued at approximately $3,501,000. 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.