498,873 Shares in Leggett & Platt, Incorporated (NYSE:LEG) Purchased by Point72 Asset Management L.P.

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

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Leggett & Platt by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock valued at $148,593,000 after buying an additional 722,024 shares during the last quarter. Marshall Wace LLP bought a new position in Leggett & Platt during the fourth quarter valued at approximately $5,858,000. Invenomic Capital Management LP lifted its position in Leggett & Platt by 64.6% during the fourth quarter. Invenomic Capital Management LP now owns 1,517,156 shares of the company's stock valued at $14,565,000 after purchasing an additional 595,684 shares during the period. Trexquant Investment LP lifted its position in Leggett & Platt by 89.0% during the fourth quarter. Trexquant Investment LP now owns 1,177,891 shares of the company's stock valued at $11,308,000 after purchasing an additional 554,814 shares during the period. Finally, RBF Capital LLC raised its stake in Leggett & Platt by 566.7% during the 4th quarter. RBF Capital LLC now owns 400,000 shares of the company's stock valued at $3,896,000 after buying an additional 340,000 shares during the last quarter. Institutional investors own 64.23% of the company's stock.

Leggett & Platt Price Performance

Shares of Leggett & Platt stock traded down $0.15 on Friday, hitting $8.73. 1,441,690 shares of the company traded hands, compared to its average volume of 2,471,958. The business has a 50-day simple moving average of $8.17 and a 200 day simple moving average of $9.61. Leggett & Platt, Incorporated has a 52 week low of $6.48 and a 52 week high of $14.24. The stock has a market capitalization of $1.18 billion, a P/E ratio of -2.34 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 (NYSE:LEG - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $0.23 EPS. The business's quarterly revenue was down 6.8% on a year-over-year basis. Research analysts expect that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.29%. The ex-dividend date is Friday, June 13th. Leggett & Platt's payout ratio is -5.35%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LEG shares. 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 report on Wednesday, April 30th. Truist Financial decreased their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $9.00 price objective (down from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th.

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.