Dimensional Fund Advisors LP Reduces Stock Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Dimensional Fund Advisors LP trimmed its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,865,073 shares of the company's stock after selling 172,021 shares during the quarter. Dimensional Fund Advisors LP owned about 1.39% of Leggett & Platt worth $17,904,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Marshall Wace LLP bought a new position in Leggett & Platt during the fourth quarter worth about $5,858,000. Jump Financial LLC grew its stake in shares of Leggett & Platt by 654.3% during the fourth quarter. Jump Financial LLC now owns 162,267 shares of the company's stock worth $1,558,000 after buying an additional 140,754 shares during the last quarter. Barclays PLC raised its position in Leggett & Platt by 11.1% in the fourth quarter. Barclays PLC now owns 101,453 shares of the company's stock valued at $973,000 after purchasing an additional 10,109 shares during the last quarter. Synovus Financial Corp boosted its position in Leggett & Platt by 49.6% during the 4th quarter. Synovus Financial Corp now owns 47,407 shares of the company's stock worth $455,000 after buying an additional 15,713 shares during the period. Finally, Sterling Capital Management LLC grew its stake in shares of Leggett & Platt by 17.1% in 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 during the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on LEG. 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 research note on Wednesday, January 29th. The Goldman Sachs Group boosted 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. Finally, Piper Sandler reissued a "neutral" rating and set a $9.00 target price (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th.

Leggett & Platt Trading Up 1.6 %

LEG stock traded up $0.15 during mid-day trading on Friday, reaching $9.43. The company's stock had a trading volume of 1,701,672 shares, compared to its average volume of 2,522,249. The business's 50 day moving average price is $7.97 and its 200 day moving average price is $9.84. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -2.53 and a beta of 0.75. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. 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 issued its earnings results 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. The company had revenue of $1.02 billion for 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%. Leggett & Platt's quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the business earned $0.23 EPS. On average, equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current 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 dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 2.12%. Leggett & Platt's dividend payout ratio (DPR) is currently -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.