Invesco Ltd. Boosts Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Invesco Ltd. raised its stake in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 6.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 803,440 shares of the company's stock after purchasing an additional 48,925 shares during the period. Invesco Ltd. owned approximately 0.60% of Leggett & Platt worth $7,713,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. increased its holdings in Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock worth $30,000 after buying an additional 2,629 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Leggett & Platt in the 4th quarter worth $50,000. KBC Group NV lifted its holdings in shares of 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 acquiring an additional 3,000 shares during the last quarter. Blue Trust Inc. grew its position in Leggett & Platt by 461.6% in the fourth quarter. Blue Trust Inc. now owns 9,688 shares of the company's stock worth $93,000 after acquiring an additional 7,963 shares in the last quarter. Finally, HighTower Advisors LLC bought a new position in Leggett & Platt in the fourth quarter valued at $97,000. 64.23% of the stock is owned by institutional investors.

Leggett & Platt Price Performance

LEG traded up $0.06 during trading on Wednesday, hitting $9.63. 6,817,847 shares of the company traded hands, compared to its average volume of 2,581,946. The company has a market cap of $1.30 billion, a PE ratio of -2.58 and a beta of 0.98. The stock's 50-day simple moving average is $7.95 and its two-hundred day simple moving average is $10.04. The company has a current ratio of 2.00, a quick ratio of 1.14 and a debt-to-equity ratio of 2.70. Leggett & Platt, Incorporated has a 1 year low of $6.48 and a 1 year high of $14.30.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its earnings results on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business earned $0.23 earnings per share. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Friday, March 14th. Leggett & Platt's dividend payout ratio (DPR) is -5.36%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group upped their price objective on Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Wednesday. Truist Financial decreased their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research note on Wednesday, January 29th. Finally, Piper Sandler reissued a "neutral" rating and set a $9.00 target price (down from $12.00) on shares of Leggett & Platt in a research note 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.