Boothbay Fund Management LLC Acquires New Position in Leggett & Platt, Incorporated (NYSE:LEG)

Boothbay Fund Management LLC bought a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 47,373 shares of the company's stock, valued at approximately $455,000.

A number of other hedge funds have also bought and sold shares of LEG. CIBC Asset Management Inc increased its stake in Leggett & Platt by 7.7% during the 4th quarter. CIBC Asset Management Inc now owns 13,986 shares of the company's stock worth $134,000 after buying an additional 1,001 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Leggett & Platt by 17.1% during the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock worth $77,000 after purchasing an additional 1,163 shares in the last quarter. Swiss National Bank raised its stake in Leggett & Platt by 0.8% in the 4th quarter. Swiss National Bank now owns 263,900 shares of the company's stock valued at $2,533,000 after purchasing an additional 2,100 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in Leggett & Platt by 555.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock valued at $30,000 after purchasing an additional 2,629 shares in the last quarter. Finally, KBC Group NV boosted its stake in Leggett & Platt by 74.5% during the 4th quarter. KBC Group NV now owns 7,028 shares of the company's stock worth $67,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LEG. Piper Sandler reiterated a "neutral" rating and issued a $9.00 target price (down from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. Truist Financial cut their price objective on shares of 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 boosted their target price on Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Wednesday.

Leggett & Platt Stock Up 1.2 %

NYSE LEG opened at $9.74 on Friday. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. Leggett & Platt, Incorporated has a 52 week low of $6.48 and a 52 week high of $14.30. The business's fifty day simple moving average is $7.95 and its 200-day simple moving average is $10.02. The firm has a market cap of $1.31 billion, a PE ratio of -2.61 and a beta of 0.98.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. Leggett & Platt's revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. As a group, equities analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.05%. Leggett & Platt's dividend payout ratio (DPR) is -5.35%.

Leggett & Platt Profile

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.

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