PharVision Advisers LLC Makes New Investment in Leggett & Platt, Incorporated (NYSE:LEG)

PharVision Advisers LLC purchased a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 48,672 shares of the company's stock, valued at approximately $467,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SG Americas Securities LLC boosted its position in Leggett & Platt by 29.5% during the 4th quarter. SG Americas Securities LLC now owns 47,979 shares of the company's stock worth $461,000 after acquiring an additional 10,936 shares during the period. Impact Partnership Wealth LLC bought a new stake in shares of Leggett & Platt during the fourth quarter valued at about $225,000. Blue Trust Inc. lifted its holdings in Leggett & Platt by 461.6% in 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 during the period. KBC Group NV grew its position in Leggett & Platt by 74.5% in the 4th quarter. KBC Group NV now owns 7,028 shares of the company's stock valued at $67,000 after buying an additional 3,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Leggett & Platt by 18.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 97,107 shares of the company's stock valued at $928,000 after buying an additional 15,377 shares during the period. 64.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LEG shares. Truist Financial reduced their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th. Piper Sandler reissued a "neutral" rating and set a $9.00 target price (down previously from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th. Finally, The Goldman Sachs Group increased their price target on Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th.

Leggett & Platt Price Performance

NYSE LEG traded down $0.15 on Monday, reaching $8.73. The company's stock had a trading volume of 1,441,690 shares, compared to its average volume of 2,471,958. Leggett & Platt, Incorporated has a twelve month low of $6.48 and a twelve month high of $14.24. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The firm's 50 day moving average is $8.17 and its two-hundred day moving average is $9.61. The stock has a market cap of $1.18 billion, a PE ratio of -2.34 and a beta of 0.75.

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 analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The business's revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. As a group, sell-side analysts predict 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. Investors of record on Friday, June 13th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, June 13th. Leggett & Platt's payout ratio is -5.35%.

Leggett & Platt Company 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.