GAMMA Investing LLC increased its position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 653.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,666 shares of the company's stock after acquiring an additional 80,364 shares during the period. GAMMA Investing LLC owned about 0.07% of Leggett & Platt worth $733,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Leggett & Platt by 4.9% in the 4th quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock valued at $148,593,000 after acquiring an additional 722,024 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Leggett & Platt in the 4th quarter valued at about $5,858,000. Invenomic Capital Management LP increased its holdings in shares of Leggett & Platt by 64.6% in the 4th quarter. Invenomic Capital Management LP now owns 1,517,156 shares of the company's stock valued at $14,565,000 after acquiring an additional 595,684 shares during the last quarter. Seven Six Capital Management LLC purchased a new position in shares of Leggett & Platt in the 4th quarter valued at about $5,627,000. Finally, Trexquant Investment LP increased its holdings 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 acquiring an additional 554,814 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.
Wall Street Analysts Forecast Growth
LEG has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday. Piper Sandler restated a "neutral" rating and set a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. Finally, The Goldman Sachs Group raised 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.
Get Our Latest Research Report on LEG
Leggett & Platt Stock Performance
Shares of LEG stock traded up $0.10 during midday trading on Friday, hitting $9.21. The company had a trading volume of 2,408,342 shares, compared to its average volume of 2,149,776. The company's 50 day simple moving average is $8.75 and its 200 day simple moving average is $9.22. Leggett & Platt, Incorporated has a 52-week low of $6.48 and a 52-week high of $14.24. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -2.46 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.
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 positive return on equity of 20.46% and a negative net margin of 11.89%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business posted $0.23 EPS. The company's revenue was down 6.8% on a year-over-year basis. Research analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.
Leggett & Platt Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $0.05 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 2.17%. Leggett & Platt's dividend payout ratio (DPR) is currently -5.35%.
Leggett & Platt Company Profile
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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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