Leggett & Platt, Incorporated (NYSE:LEG) Shares Acquired by Readystate Asset Management LP

Readystate Asset Management LP raised its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 44.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,785 shares of the company's stock after buying an additional 116,668 shares during the period. Readystate Asset Management LP owned about 0.28% of Leggett & Platt worth $2,996,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LEG. Vanguard Group Inc. boosted its stake in Leggett & Platt by 4.9% in the fourth 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 in the last quarter. AQR Capital Management LLC boosted its stake in Leggett & Platt by 12.4% in the fourth quarter. AQR Capital Management LLC now owns 1,632,152 shares of the company's stock valued at $15,669,000 after acquiring an additional 179,938 shares in the last quarter. Invenomic Capital Management LP boosted its stake in Leggett & Platt by 64.6% in the fourth 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 in the last quarter. Wellington Management Group LLP boosted its stake in Leggett & Platt by 3.0% in the fourth quarter. Wellington Management Group LLP now owns 1,190,258 shares of the company's stock valued at $11,426,000 after acquiring an additional 34,972 shares in the last quarter. Finally, Trexquant Investment LP boosted its stake in Leggett & Platt by 89.0% in the fourth 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 in the last quarter. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LEG. Piper Sandler restated a "neutral" rating and issued a $9.00 price objective (down from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. The Goldman Sachs Group lifted their price objective on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Leggett & Platt from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th.

Leggett & Platt Stock Performance

NYSE LEG traded up $0.09 during trading on Friday, reaching $10.34. The company's stock had a trading volume of 1,250,682 shares, compared to its average volume of 3,047,172. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.36 and a current ratio of 2.20. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -2.76 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 business's fifty day moving average price is $9.45 and its 200-day moving average price is $9.12.

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

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, June 13th. 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.