Point72 Asset Management L.P. Purchases New Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Point72 Asset Management L.P. purchased a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 498,873 shares of the company's stock, valued at approximately $4,789,000. Point72 Asset Management L.P. owned approximately 0.37% of Leggett & Platt at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC acquired a new stake in Leggett & Platt in the fourth quarter worth $666,000. Vanguard Group Inc. increased its position in Leggett & Platt by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock worth $148,593,000 after buying an additional 722,024 shares during the period. American Century Companies Inc. increased its position in Leggett & Platt by 50.3% in the fourth quarter. American Century Companies Inc. now owns 138,972 shares of the company's stock worth $1,334,000 after buying an additional 46,499 shares during the period. Trexquant Investment LP increased its position in Leggett & Platt by 89.0% in the fourth quarter. Trexquant Investment LP now owns 1,177,891 shares of the company's stock worth $11,308,000 after buying an additional 554,814 shares during the period. Finally, Amundi increased its position in Leggett & Platt by 90.3% in the fourth quarter. Amundi now owns 82,890 shares of the company's stock worth $814,000 after buying an additional 39,324 shares during the period. 64.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group increased 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. Truist Financial lowered their price target on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Finally, Piper Sandler reissued a "neutral" rating and set a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th.

Leggett & Platt Price Performance

Shares of LEG opened at $9.23 on Tuesday. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -2.47 and a beta of 0.75. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. Leggett & Platt, Incorporated has a one year low of $6.48 and a one year high of $14.24. The stock's fifty day moving average is $8.10 and its 200-day moving average is $9.71.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $0.24 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 positive return on equity of 17.09% and a negative net margin of 11.67%. The company's quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the company earned $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 company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.20 annualized dividend and a yield of 2.17%. Leggett & Platt's dividend payout ratio is currently -5.35%.

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.

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