Leggett & Platt, Incorporated (NYSE:LEG) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 20.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 305,875 shares of the company's stock after buying an additional 51,733 shares during the quarter. Nuveen Asset Management LLC owned 0.23% of Leggett & Platt worth $2,936,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LEG. Blue Trust Inc. lifted its position in shares of Leggett & Platt by 461.6% during the fourth quarter. Blue Trust Inc. now owns 9,688 shares of the company's stock worth $93,000 after purchasing an additional 7,963 shares in the last quarter. KBC Group NV increased its stake in Leggett & Platt by 74.5% in the fourth quarter. KBC Group NV now owns 7,028 shares of the company's stock valued at $67,000 after purchasing an additional 3,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Leggett & Platt by 18.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 97,107 shares of the company's stock valued at $928,000 after purchasing an additional 15,377 shares during the last quarter. Empowered Funds LLC purchased a new position in Leggett & Platt in the fourth quarter valued at approximately $123,000. Finally, Entropy Technologies LP grew its position in shares of Leggett & Platt by 28.6% during the fourth quarter. Entropy Technologies LP now owns 28,791 shares of the company's stock worth $276,000 after acquiring an additional 6,407 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Leggett & Platt Price Performance

Shares of NYSE:LEG traded up $0.10 during midday trading on Wednesday, hitting $9.17. 2,951,523 shares of the stock were exchanged, compared to its average volume of 2,400,909. The stock has a market cap of $1.24 billion, a P/E ratio of -2.46 and a beta of 0.75. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. Leggett & Platt, Incorporated has a twelve month low of $6.48 and a twelve month high of $14.24. The company has a 50 day moving average price of $8.26 and a 200-day moving average price of $9.48.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The firm's quarterly revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. On average, research analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, June 13th. Leggett & Platt's dividend payout ratio is currently -5.35%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LEG. Piper Sandler restated a "neutral" rating and set a $9.00 target price (down from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. The Goldman Sachs Group raised their target price on Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th.

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.