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Connor Clark & Lunn Investment Management Ltd. Has $4.84 Million Position in Leggett & Platt, Incorporated (NYSE:LEG)

Leggett & Platt logo with Consumer Discretionary background

Key Points

  • Connor Clark & Lunn Investment Management Ltd. increased its stake in Leggett & Platt by 13.2% during the first quarter, acquiring an additional 71,179 shares for a total of 611,682 shares valued at approximately $4.84 million.
  • Leggett & Platt reported a net revenue of $1.06 billion in its latest quarterly earnings, with an earnings per share (EPS) of $0.30, surpassing analysts' expectations.
  • The company declared a quarterly dividend of $0.05 per share, scheduled for payment on October 15th, yielding approximately 2.2%.
  • Looking to export and analyze Leggett & Platt data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 13.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 611,682 shares of the company's stock after purchasing an additional 71,179 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.45% of Leggett & Platt worth $4,838,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its stake in shares of Leggett & Platt by 24.8% in the 4th quarter. Cerity Partners LLC now owns 104,092 shares of the company's stock valued at $999,000 after purchasing an additional 20,690 shares in the last quarter. Invesco Ltd. lifted its holdings in Leggett & Platt by 6.5% during the 4th quarter. Invesco Ltd. now owns 803,440 shares of the company's stock worth $7,713,000 after buying an additional 48,925 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Leggett & Platt in the 4th quarter valued at approximately $575,000. Sterling Capital Management LLC raised its position in shares of Leggett & Platt by 17.1% during the 4th 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 in the last quarter. Finally, Synovus Financial Corp lifted its stake in Leggett & Platt by 49.6% during the fourth quarter. Synovus Financial Corp now owns 47,407 shares of the company's stock worth $455,000 after purchasing an additional 15,713 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company's stock.

Leggett & Platt Price Performance

LEG traded down $0.05 during trading on Friday, reaching $9.35. The stock had a trading volume of 1,307,539 shares, compared to its average volume of 2,501,719. Leggett & Platt, Incorporated has a 1-year low of $6.47 and a 1-year high of $14.23. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 9.08 and a beta of 0.70. The stock has a 50 day moving average of $9.48 and a two-hundred day moving average of $8.99. The company has a quick ratio of 1.36, a current ratio of 2.17 and a debt-to-equity ratio of 2.09.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm posted $0.29 EPS. The business's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $0.05 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.1%. Leggett & Platt's dividend payout ratio (DPR) is 19.42%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Piper Sandler reissued a "neutral" rating and set a $9.00 target price (down from $10.00) on shares of Leggett & Platt in a report on Monday, August 4th. Wall Street Zen lowered shares of Leggett & Platt from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, The Goldman Sachs Group increased their price objective on Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th.

View Our Latest Stock Report on Leggett & Platt

Leggett & Platt 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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Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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