Y Intercept Hong Kong Ltd Buys New Position in Leggett & Platt, Incorporated (NYSE:LEG)

Y Intercept Hong Kong Ltd bought a new stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 125,191 shares of the company's stock, valued at approximately $990,000. Y Intercept Hong Kong Ltd owned approximately 0.09% of Leggett & Platt at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Sterling Capital Management LLC boosted its stake in shares of Leggett & Platt by 17.1% during the 4th 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 in the last quarter. HighTower Advisors LLC bought a new stake in shares of Leggett & Platt during the 4th quarter valued at about $97,000. Coldstream Capital Management Inc. bought a new stake in shares of Leggett & Platt during the 4th quarter valued at about $111,000. Captrust Financial Advisors lifted its position in Leggett & Platt by 27.5% during the 4th quarter. Captrust Financial Advisors now owns 13,521 shares of the company's stock valued at $130,000 after acquiring an additional 2,915 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in Leggett & Platt during the 1st quarter valued at about $107,000. Institutional investors own 64.23% of the company's stock.

Leggett & Platt Stock Performance

Shares of LEG traded down $0.07 during mid-day trading on Monday, hitting $10.27. 237,028 shares of the company traded hands, compared to its average volume of 2,537,567. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.36 and a current ratio of 2.20. The stock has a 50-day moving average price of $9.45 and a two-hundred day moving average price of $9.12. Leggett & Platt, Incorporated has a 1 year low of $6.47 and a 1 year high of $14.23. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -2.75 and a beta of 0.74.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. Leggett & Platt had a negative net margin of 11.89% and a positive return on equity of 20.46%. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the company earned $0.23 earnings per share. The firm's quarterly revenue was down 6.8% on a year-over-year basis. Equities analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th were issued 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 dividend yield of 1.95%. Leggett & Platt's payout ratio is -5.35%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. 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, Piper Sandler reissued a "neutral" rating and set a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th.

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.