Meeder Asset Management Inc. Acquires 5,728 Shares of La-Z-Boy Incorporated (NYSE:LZB)

Meeder Asset Management Inc. grew its holdings in shares of La-Z-Boy Incorporated (NYSE:LZB) by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,539 shares of the company’s stock after acquiring an additional 5,728 shares during the quarter. Meeder Asset Management Inc. owned about 0.10% of La-Z-Boy worth $1,723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in La-Z-Boy by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 801,140 shares of the company’s stock valued at $34,906,000 after purchasing an additional 22,168 shares during the last quarter. Verity Asset Management Inc. bought a new position in La-Z-Boy in the fourth quarter valued at $275,000. Rhumbline Advisers raised its position in La-Z-Boy by 1.1% during the fourth quarter. Rhumbline Advisers now owns 160,292 shares of the company’s stock valued at $6,984,000 after purchasing an additional 1,818 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of La-Z-Boy by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 223,683 shares of the company’s stock worth $9,746,000 after purchasing an additional 6,908 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of La-Z-Boy by 67.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 143,949 shares of the company’s stock valued at $6,272,000 after buying an additional 58,146 shares in the last quarter. Hedge funds and other institutional investors own 99.62% of the company’s stock.

La-Z-Boy Stock Performance

Shares of LZB opened at $38.69 on Monday. La-Z-Boy Incorporated has a fifty-two week low of $32.00 and a fifty-two week high of $48.31. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 13.30 and a beta of 1.38. The firm has a 50 day moving average price of $43.41 and a 200-day moving average price of $42.85.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $521.78 million for the quarter, compared to analysts’ expectations of $516.47 million. La-Z-Boy had a return on equity of 12.38% and a net margin of 5.92%. As a group, equities research analysts predict that La-Z-Boy Incorporated will post 2.99 earnings per share for the current year.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Tuesday, March 4th. La-Z-Boy’s payout ratio is 30.24%.

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.