Trust Co. of Oklahoma Buys New Shares in Leggett & Platt, Incorporated (NYSE:LEG)

Trust Co. of Oklahoma purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,240 shares of the company's stock, valued at approximately $239,000.

A number of other large investors have also recently added to or reduced their stakes in LEG. SRS Capital Advisors Inc. lifted its holdings in Leggett & Platt by 555.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock valued at $30,000 after acquiring an additional 2,629 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Leggett & Platt in the fourth quarter valued at approximately $50,000. KBC Group NV lifted its holdings in Leggett & Platt by 74.5% in the fourth quarter. KBC Group NV now owns 7,028 shares of the company's stock valued at $67,000 after acquiring an additional 3,000 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Leggett & Platt by 17.1% in the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock valued at $77,000 after acquiring an additional 1,163 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in Leggett & Platt in the fourth quarter valued at approximately $97,000. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler reiterated a "neutral" rating and issued a $9.00 price objective (down from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th. The Goldman Sachs Group upped their price target on Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th.

Leggett & Platt Trading Down 4.1%

NYSE:LEG traded down $0.39 during trading hours on Friday, reaching $9.23. 1,192,634 shares of the stock were exchanged, compared to its average volume of 2,362,472. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. The business has a 50-day moving average of $8.54 and a two-hundred day moving average of $9.36. Leggett & Platt, Incorporated has a twelve month low of $6.48 and a twelve month high of $14.24. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -2.47 and a beta of 0.75.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly 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 positive return on equity of 17.09% and a negative net margin of 11.67%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the prior year, the firm earned $0.23 earnings per share. The firm's revenue was down 6.8% compared to the same quarter last year. On average, equities analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 2.17%. Leggett & Platt's dividend payout ratio (DPR) is presently -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.