Mutual Advisors LLC increased its position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 55.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 106,106 shares of the company's stock after acquiring an additional 37,715 shares during the quarter. Mutual Advisors LLC owned approximately 0.08% of Leggett & Platt worth $774,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in Leggett & Platt during the fourth quarter worth about $158,000. Jones Financial Companies Lllp boosted its position in Leggett & Platt by 29.3% during the 4th quarter. Jones Financial Companies Lllp now owns 13,529 shares of the company's stock worth $130,000 after purchasing an additional 3,069 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Leggett & Platt in the 4th quarter valued at $50,000. Charles Schwab Investment Management Inc. raised its position in Leggett & Platt by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company's stock valued at $45,610,000 after purchasing an additional 214,571 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Leggett & Platt in the fourth quarter worth about $575,000. Institutional investors and hedge funds own 64.23% of the company's stock.
Analysts Set New Price Targets
LEG has been the subject of several analyst reports. Piper Sandler restated a "neutral" rating and issued a $9.00 target price (down from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. The Goldman Sachs Group lifted their target price on Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Wall Street Zen raised Leggett & Platt from a "hold" rating to a "buy" rating in a report on Saturday, July 5th.
Check Out Our Latest Stock Analysis on Leggett & Platt
Leggett & Platt Stock Up 2.5%
NYSE:LEG traded up $0.26 during mid-day trading on Thursday, reaching $10.34. The stock had a trading volume of 2,825,057 shares, compared to its average volume of 2,624,753. 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 company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -2.76 and a beta of 0.74. Leggett & Platt, Incorporated has a 1-year low of $6.47 and a 1-year high of $14.23. The stock's 50 day simple moving average is $9.29 and its two-hundred day simple moving average is $9.09.
Leggett & Platt (NYSE:LEG - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. Leggett & Platt had a negative net margin of 11.89% and a positive return on equity of 20.46%. Leggett & Platt's revenue was down 6.8% on a year-over-year basis. During the same quarter last year, the company posted $0.23 earnings per share. Equities analysts anticipate that Leggett & Platt, Incorporated will post 1.14 EPS for the current 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 given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, June 13th. Leggett & Platt's dividend payout ratio is presently -5.35%.
About Leggett & Platt
(
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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