193,945 Shares in Leggett & Platt, Incorporated (NYSE:LEG) Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd has acquired a new stake in Leggett & Platt, purchasing 193,945 shares valued at approximately $1.53 million, representing 0.14% ownership of the company.
• Leggett & Platt declared a quarterly dividend of $0.05 per share, resulting in an annualized dividend yield of 2.1%, with a payout ratio currently at -5.35%.
• Analysts have differing views on LEG shares, with Piper Sandler maintaining a "neutral" rating and a revised price objective of $9.00, while Wall Street Zen upgraded their rating to "buy."

XTX Topco Ltd acquired a new position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 193,945 shares of the company's stock, valued at approximately $1,534,000. XTX Topco Ltd owned about 0.14% of Leggett & Platt at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LEG. Vanguard Group Inc. raised 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 acquiring an additional 722,024 shares during the period. AQR Capital Management LLC lifted its holdings in Leggett & Platt by 12.4% during the fourth quarter. AQR Capital Management LLC now owns 1,632,152 shares of the company's stock valued at $15,669,000 after purchasing an additional 179,938 shares during the last quarter. Invenomic Capital Management LP lifted its holdings 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 last quarter. Wellington Management Group LLP lifted its holdings in Leggett & Platt by 3.0% during the fourth quarter. Wellington Management Group LLP now owns 1,190,258 shares of the company's stock valued at $11,426,000 after purchasing an additional 34,972 shares during the last quarter. Finally, Trexquant Investment LP lifted its holdings in shares of 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 in the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Leggett & Platt Trading Up 1.2%

NYSE:LEG traded up $0.10 during trading hours on Monday, hitting $8.18. The company had a trading volume of 1,013,167 shares, compared to its average volume of 2,538,629. The company has a market capitalization of $1.10 billion, a PE ratio of 7.95 and a beta of 0.70. The stock has a 50-day moving average price of $9.51 and a 200 day moving average price of $9.09. Leggett & Platt, Incorporated has a 52 week low of $6.47 and a 52 week high of $14.23. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.17 and a quick ratio of 1.36.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.01. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.06 billion. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The firm's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 earnings per share. On average, equities research analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.20 annualized dividend and a yield of 2.4%. Leggett & Platt's dividend payout ratio (DPR) is currently 19.42%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Leggett & Platt from a "buy" rating to a "hold" rating in a report on Saturday. Piper Sandler decreased their price target on shares of Leggett & Platt from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group raised their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th.

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.