Hsbc Holdings PLC Buys 285,971 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Hsbc Holdings PLC lifted its stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 591.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 334,295 shares of the company's stock after buying an additional 285,971 shares during the period. Hsbc Holdings PLC owned about 0.25% of Leggett & Platt worth $3,221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position 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. GAMMA Investing LLC boosted its holdings in shares of Leggett & Platt by 2,069.7% in the 4th quarter. GAMMA Investing LLC now owns 12,302 shares of the company's stock worth $118,000 after acquiring an additional 11,735 shares in the last quarter. Diversified Trust Co bought a new stake in Leggett & Platt during the 4th quarter worth approximately $255,000. International Assets Investment Management LLC acquired a new stake in Leggett & Platt during the 4th quarter valued at $337,000. Finally, Pallas Capital Advisors LLC acquired a new position in Leggett & Platt in the fourth quarter worth $99,000. Institutional investors own 64.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LEG. 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 note on Friday, April 11th. Truist Financial decreased their price objective on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group upped 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.

Leggett & Platt Trading Down 0.9 %

Shares of Leggett & Platt stock traded down $0.09 on Monday, hitting $9.45. 346,598 shares of the company's stock traded hands, compared to its average volume of 2,676,814. Leggett & Platt, Incorporated has a one year low of $6.47 and a one year high of $14.29. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14. The stock has a market capitalization of $1.27 billion, a PE ratio of -2.53 and a beta of 0.98. The firm's 50-day moving average price is $7.95 and its two-hundred day moving average price is $9.94.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its earnings results 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. The firm 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 company's quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. On average, research analysts expect that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.20 annualized dividend and a yield of 2.12%. Leggett & Platt's dividend payout ratio is presently -5.35%.

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.