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 the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,968,938 shares of the company's stock after selling 147,838 shares during the period. D. E. Shaw & Co. Inc. owned approximately 1.47% of Leggett & Platt worth $18,902,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Leggett & Platt by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 581,665 shares of the company's stock valued at $7,922,000 after buying an additional 160,104 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in Leggett & Platt in the fourth quarter valued at $99,000. Oak Thistle LLC acquired a new stake in Leggett & Platt in the fourth quarter valued at $856,000. SG Americas Securities LLC raised its stake in Leggett & Platt by 29.5% in the fourth quarter. SG Americas Securities LLC now owns 47,979 shares of the company's stock valued at $461,000 after buying an additional 10,936 shares in the last quarter. Finally, Impact Partnership Wealth LLC acquired a new stake in Leggett & Platt in the fourth quarter valued at $225,000. 64.23% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on LEG. The Goldman Sachs Group raised their price target on Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Truist Financial cut their price target on 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 restated a "neutral" rating and issued a $9.00 price target (down from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th.
Check Out Our Latest Stock Analysis on LEG
Leggett & Platt Stock Performance
Shares of LEG stock traded down $0.01 during mid-day trading on Friday, hitting $9.54. 1,217,662 shares of the stock were exchanged, compared to its average volume of 2,498,009. The stock's fifty day simple moving average is $8.08 and its two-hundred day simple moving average is $9.73. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -2.56 and a beta of 0.75. Leggett & Platt, Incorporated has a 12-month low of $6.48 and a 12-month high of $14.24. 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 quarterly earnings data on Monday, April 28th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. The business's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share. On average, analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.
Leggett & Platt Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, June 13th. Leggett & Platt's payout ratio is -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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