Two Sigma Advisers LP Increases Stock Position in Leggett & Platt, Incorporated (NYSE:LEG)

Two Sigma Advisers LP lifted its position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 82.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 630,100 shares of the company's stock after buying an additional 284,100 shares during the quarter. Two Sigma Advisers LP owned approximately 0.47% of Leggett & Platt worth $6,049,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LEG. SG Americas Securities LLC grew its position in Leggett & Platt by 29.5% in the 4th quarter. SG Americas Securities LLC now owns 47,979 shares of the company's stock valued at $461,000 after acquiring an additional 10,936 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in shares of Leggett & Platt in the fourth quarter valued at approximately $225,000. Blue Trust Inc. grew its holdings in shares of Leggett & Platt by 461.6% in the fourth quarter. Blue Trust Inc. now owns 9,688 shares of the company's stock valued at $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% during the 4th quarter. KBC Group NV now owns 7,028 shares of the company's stock worth $67,000 after buying an additional 3,000 shares during the period. 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 worth $928,000 after buying an additional 15,377 shares during the period. Hedge funds and other institutional investors own 64.23% of the company's stock.

Analyst Ratings Changes

LEG has been the subject of several recent research reports. Piper Sandler reissued a "neutral" rating and issued a $9.00 price target (down previously from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. Truist Financial decreased their target price on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group boosted their target price on Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th.

Leggett & Platt Stock Up 1.5%

Shares of NYSE:LEG traded up $0.14 during trading hours on Thursday, reaching $9.12. The stock had a trading volume of 911,269 shares, compared to its average volume of 2,568,026. Leggett & Platt, Incorporated has a 1 year low of $6.47 and a 1 year high of $14.23. The firm's 50 day moving average is $8.20 and its 200-day moving average is $9.58. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -2.44 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 issued 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. 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 during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company's revenue was down 6.8% compared to the same quarter last year. Research analysts predict that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $0.05 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.19%. Leggett & Platt's payout ratio is currently -5.35%.

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.