GSA Capital Partners LLP Buys 76,820 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Key Points

• GSA Capital Partners LLP significantly increased its stake in Leggett & Platt, Incorporated by 206.0%, acquiring an additional 76,820 shares for a total of 114,110 shares valued at $903,000.
• Institutional investors currently own 64.23% of Leggett & Platt's stock, with notable activity from other firms such as Vanguard Group and Invenomic Capital Management.
• The company's most recent quarterly earnings reported $0.30 EPS, slightly beating analyst estimates, despite a 6.3% decline in revenue year-over-year.

GSA Capital Partners LLP raised its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 206.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,110 shares of the company's stock after purchasing an additional 76,820 shares during the period. GSA Capital Partners LLP owned approximately 0.08% of Leggett & Platt worth $903,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LEG. Sterling Capital Management LLC boosted its holdings in Leggett & Platt by 17.1% in the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock valued at $77,000 after purchasing an additional 1,163 shares during the period. HighTower Advisors LLC bought a new stake in Leggett & Platt in the 4th quarter valued at about $97,000. Janney Montgomery Scott LLC bought a new stake in shares of Leggett & Platt during the 1st quarter worth approximately $107,000. Coldstream Capital Management Inc. bought a new stake in shares of Leggett & Platt during the 4th quarter worth approximately $111,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Leggett & Platt by 27.5% during the 4th quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock worth $130,000 after acquiring an additional 2,915 shares during the period. Institutional investors own 64.23% of the company's stock.

Leggett & Platt Price Performance

LEG stock traded down $1.45 during trading on Friday, reaching $8.10. 4,653,310 shares of the company were exchanged, compared to its average volume of 1,833,073. The company has a 50-day moving average of $9.51 and a two-hundred day moving average of $9.11. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 7.86 and a beta of 0.74. Leggett & Platt, Incorporated has a twelve month low of $6.47 and a twelve month high of $14.23. 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 released its quarterly earnings data on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.01. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.06 billion. Leggett & Platt had a net margin of 3.36% and a return on equity of 20.28%. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. As a group, equities analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, June 13th. Leggett & Platt's dividend payout ratio is 19.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LEG. The Goldman Sachs Group upped their price target on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Piper Sandler reaffirmed a "neutral" rating and set a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th. Finally, Wall Street Zen downgraded shares of Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday.

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.