South Dakota Investment Council Buys 211,270 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

South Dakota Investment Council boosted its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 42.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 707,348 shares of the company's stock after acquiring an additional 211,270 shares during the quarter. South Dakota Investment Council owned 0.52% of Leggett & Platt worth $5,595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Sterling Capital Management LLC lifted its holdings in shares of Leggett & Platt by 17.1% during the fourth quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock valued at $77,000 after purchasing an additional 1,163 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Leggett & Platt by 8.9% in the first quarter. Oppenheimer & Co. Inc. now owns 24,501 shares of the company's stock worth $194,000 after buying an additional 2,000 shares during the period. Swiss National Bank lifted its stake in Leggett & Platt by 0.8% in the 4th quarter. Swiss National Bank now owns 263,900 shares of the company's stock worth $2,533,000 after acquiring an additional 2,100 shares in the last quarter. Deutsche Bank AG boosted its position in Leggett & Platt by 3.2% during the 4th quarter. Deutsche Bank AG now owns 67,319 shares of the company's stock worth $646,000 after acquiring an additional 2,109 shares during the period. Finally, Investors Research Corp grew its stake in Leggett & Platt by 10.5% during the 1st quarter. Investors Research Corp now owns 28,322 shares of the company's stock valued at $224,000 after acquiring an additional 2,687 shares in the last quarter. Institutional investors own 64.23% of the company's stock.

Leggett & Platt Stock Down 1.0%

Shares of NYSE:LEG traded down $0.10 during midday trading on Friday, reaching $9.88. The company had a trading volume of 1,904,196 shares, compared to its average volume of 2,202,500. The business's 50 day moving average price is $9.38 and its 200 day moving average price is $9.10. Leggett & Platt, Incorporated has a 1-year low of $6.48 and a 1-year high of $14.24. The company has a quick ratio of 1.36, a current ratio of 2.20 and a debt-to-equity ratio of 2.59. The stock has a market cap of $1.34 billion, a PE ratio of -2.64 and a beta of 0.74.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Leggett & Platt had a positive return on equity of 20.46% and a negative net margin of 11.89%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the company posted $0.23 EPS. The firm's revenue for the quarter was down 6.8% compared to the same quarter last year. Research analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Friday, June 13th. Leggett & Platt's dividend payout ratio is presently -5.35%.

Analyst Ratings Changes

LEG has been the topic of several recent research reports. Piper Sandler reaffirmed a "neutral" rating and set a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. Wall Street Zen raised shares of Leggett & Platt from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, 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.

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.