Bastion Asset Management Inc. Invests $2.68 Million in Leggett & Platt, Incorporated (NYSE:LEG)

Bastion Asset Management Inc. bought a new stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 279,164 shares of the company's stock, valued at approximately $2,680,000. Leggett & Platt makes up 1.8% of Bastion Asset Management Inc.'s investment portfolio, making the stock its 24th biggest holding. Bastion Asset Management Inc. owned 0.21% of Leggett & Platt as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. SRS Capital Advisors Inc. boosted its stake in Leggett & Platt by 555.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock valued at $30,000 after buying an additional 2,629 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Leggett & Platt in the fourth quarter worth about $50,000. KBC Group NV lifted its holdings in shares of Leggett & Platt by 74.5% in the fourth quarter. KBC Group NV now owns 7,028 shares of the company's stock worth $67,000 after acquiring an additional 3,000 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Leggett & Platt by 17.1% in the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock valued at $77,000 after purchasing an additional 1,163 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Leggett & Platt by 461.6% during the 4th quarter. Blue Trust Inc. now owns 9,688 shares of the company's stock valued at $93,000 after purchasing an additional 7,963 shares during the last quarter. Institutional investors own 64.23% of the company's stock.

Leggett & Platt Stock Down 1.1 %

Shares of LEG stock traded down $0.11 during trading hours on Tuesday, reaching $9.19. The company had a trading volume of 1,982,747 shares, compared to its average volume of 2,518,540. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -2.46 and a beta of 0.75. The business has a fifty day simple moving average of $7.94 and a 200-day simple moving average of $9.91. Leggett & Platt, Incorporated has a 12 month low of $6.48 and a 12 month high of $14.24.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company posted $0.23 earnings per share. The firm's quarterly revenue was down 6.8% compared to the same quarter last year. On average, research analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.20 annualized dividend and a dividend yield of 2.18%. Leggett & Platt's dividend payout ratio is currently -5.35%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LEG. Piper Sandler reissued a "neutral" rating and set a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th. Truist Financial lowered their target price on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group raised their target price on Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th.

About Leggett & Platt

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.