La-Z-Boy (NYSE:LZB) Sets New 52-Week High – Here’s What Happened

La-Z-Boy Incorporated (NYSE:LZB)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $45.49 and last traded at $45.49, with a volume of 93589 shares. The stock had previously closed at $43.69.

Analyst Upgrades and Downgrades

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

La-Z-Boy Trading Up 1.3 %

The firm has a market cap of $1.90 billion, a PE ratio of 15.66 and a beta of 1.29. The firm has a 50 day moving average price of $41.37 and a 200-day moving average price of $39.91.

La-Z-Boy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.22 per share. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, December 5th. La-Z-Boy’s payout ratio is 27.68%.

Insiders Place Their Bets

In related news, Director Janet Kerr sold 3,890 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $40.89, for a total value of $159,062.10. Following the transaction, the director now directly owns 3,372 shares of the company’s stock, valued at $137,881.08. This trade represents a 53.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On La-Z-Boy

Large investors have recently bought and sold shares of the stock. Assetmark Inc. acquired a new stake in shares of La-Z-Boy in the third quarter valued at approximately $30,000. TD Private Client Wealth LLC acquired a new stake in La-Z-Boy during the 3rd quarter worth $43,000. Quarry LP grew its position in La-Z-Boy by 2,550.0% during the 2nd quarter. Quarry LP now owns 1,378 shares of the company’s stock worth $51,000 after purchasing an additional 1,326 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in La-Z-Boy in the second quarter valued at $63,000. Finally, Innealta Capital LLC purchased a new stake in shares of La-Z-Boy in the second quarter valued at about $69,000. Institutional investors and hedge funds own 99.62% of the company’s stock.

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.