Verity Asset Management Inc. Invests $275,000 in La-Z-Boy Incorporated (NYSE:LZB)

Verity Asset Management Inc. purchased a new position in La-Z-Boy Incorporated (NYSE:LZB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,304 shares of the company’s stock, valued at approximately $275,000.

Other large investors have also recently made changes to their positions in the company. abrdn plc bought a new stake in La-Z-Boy during the third quarter valued at $10,809,000. Weiss Asset Management LP bought a new stake in La-Z-Boy during the third quarter valued at $5,988,000. Millennium Management LLC boosted its stake in La-Z-Boy by 125.6% during the second quarter. Millennium Management LLC now owns 174,249 shares of the company’s stock valued at $6,496,000 after buying an additional 97,023 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in La-Z-Boy during the third quarter valued at $3,684,000. Finally, Wellington Management Group LLP bought a new stake in La-Z-Boy during the third quarter valued at $3,177,000. 99.62% of the stock is owned by institutional investors.

La-Z-Boy Stock Performance

NYSE:LZB opened at $46.59 on Wednesday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 16.12 and a beta of 1.35. La-Z-Boy Incorporated has a 52-week low of $32.00 and a 52-week high of $48.31. The stock has a fifty day moving average of $44.62 and a 200 day moving average of $42.55.

La-Z-Boy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were issued a $0.22 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.88 annualized dividend and a dividend yield of 1.89%. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.20. La-Z-Boy’s payout ratio is currently 30.45%.

La-Z-Boy 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.