D. E. Shaw & Co. Inc. reduced its stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,968,938 shares of the company's stock after selling 147,838 shares during the quarter. D. E. Shaw & Co. Inc. owned 1.47% of Leggett & Platt worth $18,902,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Counterpoint Mutual Funds LLC acquired a new position in Leggett & Platt during the 4th quarter worth approximately $666,000. Vanguard Group Inc. boosted its stake in shares of Leggett & Platt by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock valued at $148,593,000 after buying an additional 722,024 shares in the last quarter. American Century Companies Inc. grew its holdings in Leggett & Platt by 50.3% during the fourth quarter. American Century Companies Inc. now owns 138,972 shares of the company's stock worth $1,334,000 after acquiring an additional 46,499 shares during the period. Trexquant Investment LP raised its position in 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 acquiring an additional 554,814 shares in the last quarter. Finally, Amundi raised its position in Leggett & Platt by 90.3% in the fourth quarter. Amundi now owns 82,890 shares of the company's stock worth $814,000 after acquiring an additional 39,324 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.
Wall Street Analysts Forecast Growth
LEG has been the topic of a number of recent analyst reports. Truist Financial lowered their price target 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. Piper Sandler restated a "neutral" rating and set a $9.00 target price (down from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. Finally, 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.
View Our Latest Report on LEG
Leggett & Platt Price Performance
Leggett & Platt stock opened at $9.61 on Tuesday. The firm has a market capitalization of $1.30 billion, a PE ratio of -2.58 and a beta of 0.75. Leggett & Platt, Incorporated has a 52 week low of $6.48 and a 52 week high of $14.24. The firm's 50-day simple moving average is $7.99 and its 200 day simple moving average is $9.80. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70.
Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly 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 negative net margin of 11.67% and a positive return on equity of 17.09%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.20 annualized dividend and a dividend yield of 2.08%. Leggett & Platt's dividend payout ratio is currently -5.35%.
Leggett & Platt Profile
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Free Report)
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.
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