CastleKnight Management LP Acquires 58,800 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

CastleKnight Management LP increased its stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 32.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 238,500 shares of the company's stock after purchasing an additional 58,800 shares during the quarter. CastleKnight Management LP owned about 0.18% of Leggett & Platt worth $2,290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CIBC Asset Management Inc lifted its holdings in Leggett & Platt by 7.7% in the 4th quarter. CIBC Asset Management Inc now owns 13,986 shares of the company's stock valued at $134,000 after acquiring an additional 1,001 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Leggett & Platt by 17.1% during the fourth 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 during the last quarter. Swiss National Bank boosted its holdings in Leggett & Platt by 0.8% during the fourth quarter. Swiss National Bank now owns 263,900 shares of the company's stock worth $2,533,000 after buying an additional 2,100 shares in the last quarter. SRS Capital Advisors Inc. grew its position in Leggett & Platt by 555.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock worth $30,000 after buying an additional 2,629 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of Leggett & Platt by 27.5% in the fourth quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock valued at $130,000 after buying an additional 2,915 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LEG. 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 research report on Wednesday, April 30th. Truist Financial cut their price objective on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $9.00 target price (down from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th.

Leggett & Platt Stock Up 1.6 %

Leggett & Platt stock traded up $0.15 during mid-day trading on Friday, hitting $9.43. The company's stock had a trading volume of 1,701,672 shares, compared to its average volume of 2,522,249. Leggett & Platt, Incorporated has a 52-week low of $6.48 and a 52-week high of $14.24. The company has a market cap of $1.27 billion, a PE ratio of -2.53 and a beta of 0.75. 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 firm's 50 day moving average is $7.97 and its 200 day moving average is $9.84.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The business's revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 earnings per share. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Friday, June 13th. Leggett & Platt's dividend payout ratio is presently -5.35%.

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.