Dean Capital Management Lowers Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Dean Capital Management reduced its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 61.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,697 shares of the company's stock after selling 71,891 shares during the period. Dean Capital Management's holdings in Leggett & Platt were worth $439,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in Leggett & Platt by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock worth $148,593,000 after purchasing an additional 722,024 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Leggett & Platt by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company's stock valued at $45,610,000 after acquiring an additional 214,571 shares during the last quarter. AQR Capital Management LLC increased its stake in Leggett & Platt by 12.4% during the fourth quarter. AQR Capital Management LLC now owns 1,632,152 shares of the company's stock worth $15,669,000 after acquiring an additional 179,938 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Leggett & Platt by 3.0% in the 4th quarter. Wellington Management Group LLP now owns 1,190,258 shares of the company's stock worth $11,426,000 after purchasing an additional 34,972 shares during the period. Finally, Trexquant Investment LP lifted its stake in shares of Leggett & Platt by 89.0% in the 4th quarter. Trexquant Investment LP now owns 1,177,891 shares of the company's stock valued at $11,308,000 after purchasing an additional 554,814 shares in the last quarter. 64.23% of the stock is owned by institutional investors and hedge funds.

Leggett & Platt Stock Down 0.7 %

NYSE LEG opened at $9.09 on Thursday. The stock has a market cap of $1.22 billion, a PE ratio of -2.44 and a beta of 0.75. The business has a 50 day moving average price of $7.94 and a two-hundred day moving average price of $9.90. Leggett & Platt, Incorporated has a fifty-two week low of $6.48 and a fifty-two week high of $14.24. 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 (NYSE:LEG - Get Free Report) last announced 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. 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 prior year, the firm earned $0.23 earnings per share. The business's quarterly revenue was down 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently declared 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 2.20%. Leggett & Platt's dividend payout ratio is currently -5.35%.

Wall Street Analysts Forecast Growth

LEG has been the topic of several research reports. Truist Financial cut their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Piper Sandler reissued a "neutral" rating and issued a $9.00 target price (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. Finally, The Goldman Sachs Group upped their price target on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th.

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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