Canada Pension Plan Investment Board reduced its position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 90.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,200 shares of the company's stock after selling 39,300 shares during the quarter. Canada Pension Plan Investment Board's holdings in Leggett & Platt were worth $40,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Leggett & Platt by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 581,665 shares of the company's stock worth $7,922,000 after purchasing an additional 160,104 shares during the period. GAMMA Investing LLC increased its stake in Leggett & Platt by 2,069.7% in the 4th quarter. GAMMA Investing LLC now owns 12,302 shares of the company's stock worth $118,000 after buying an additional 11,735 shares during the period. Diversified Trust Co bought a new stake in Leggett & Platt during the 4th quarter valued at about $255,000. International Assets Investment Management LLC bought a new stake in Leggett & Platt during the 4th quarter valued at about $337,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Leggett & Platt in the 4th quarter valued at about $99,000. Institutional investors own 64.23% of the company's stock.
Leggett & Platt Stock Up 0.2 %
NYSE LEG traded up $0.02 during midday trading on Friday, hitting $9.74. 828,868 shares of the company traded hands, compared to its average volume of 2,661,810. The company has a market cap of $1.31 billion, a PE ratio of -2.61 and a beta of 0.98. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14. Leggett & Platt, Incorporated has a 52 week low of $6.47 and a 52 week high of $14.30. The company's 50-day simple moving average is $7.95 and its 200-day simple moving average is $10.02.
Leggett & Platt (NYSE:LEG - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $0.24 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 period in the previous year, the company posted $0.23 earnings per share. The firm's revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.
Leggett & Platt Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.05%. The ex-dividend date was Friday, March 14th. Leggett & Platt's dividend payout ratio is currently -5.35%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday. 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, Piper Sandler restated a "neutral" rating and set a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th.
Read Our Latest Research Report on Leggett & Platt
Leggett & Platt Company Profile
(
Free Report)
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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