GAMMA Investing LLC Buys 80,364 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

GAMMA Investing LLC lifted its stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 653.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,666 shares of the company's stock after buying an additional 80,364 shares during the period. GAMMA Investing LLC owned approximately 0.07% of Leggett & Platt worth $733,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in LEG. Empowered Funds LLC bought a new stake in shares of Leggett & Platt in the fourth quarter valued at approximately $123,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Leggett & Platt by 19.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 183,333 shares of the company's stock valued at $1,760,000 after buying an additional 29,924 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Leggett & Platt by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 651,204 shares of the company's stock valued at $6,252,000 after buying an additional 19,467 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Leggett & Platt in the fourth quarter valued at approximately $108,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Leggett & Platt by 7.7% in the fourth quarter. CIBC Asset Management Inc now owns 13,986 shares of the company's stock valued at $134,000 after buying an additional 1,001 shares during the period. 64.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler restated a "neutral" rating and set a $9.00 price objective (down from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. The Goldman Sachs Group boosted their price objective on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th.

Leggett & Platt Stock Down 3.7%

Shares of LEG opened at $9.08 on Wednesday. Leggett & Platt, Incorporated has a one year low of $6.48 and a one year high of $14.24. The company has a market cap of $1.23 billion, a P/E ratio of -2.43 and a beta of 0.75. The company has a debt-to-equity ratio of 2.59, a current ratio of 2.20 and a quick ratio of 1.36. The firm has a 50 day simple moving average of $8.63 and a two-hundred day simple moving average of $9.29.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Leggett & Platt had a negative net margin of 11.89% and a positive return on equity of 20.46%. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. Research analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 annualized dividend and a dividend yield of 2.20%. Leggett & Platt's dividend payout ratio (DPR) 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.

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