Intact Investment Management Inc. Purchases Shares of 113,800 Leggett & Platt, Incorporated (NYSE:LEG)

Intact Investment Management Inc. purchased a new stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 113,800 shares of the company's stock, valued at approximately $2,978,000. Intact Investment Management Inc. owned 0.09% of Leggett & Platt at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Ramirez Asset Management Inc. acquired a new position in Leggett & Platt in the 3rd quarter valued at $25,000. Fifth Third Bancorp raised its holdings in Leggett & Platt by 253.3% in the 4th quarter. Fifth Third Bancorp now owns 1,007 shares of the company's stock valued at $26,000 after acquiring an additional 722 shares in the last quarter. GAMMA Investing LLC acquired a new position in Leggett & Platt in the 4th quarter valued at $40,000. Hexagon Capital Partners LLC raised its holdings in Leggett & Platt by 67.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,930 shares of the company's stock valued at $49,000 after acquiring an additional 778 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in Leggett & Platt in the 4th quarter valued at $49,000. 64.23% of the stock is currently owned by institutional investors.

Leggett & Platt Price Performance

Shares of Leggett & Platt stock traded up $0.03 during trading on Friday, reaching $17.99. 1,510,890 shares of the company's stock were exchanged, compared to its average volume of 1,482,541. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.84 and a current ratio of 1.49. Leggett & Platt, Incorporated has a 1-year low of $17.19 and a 1-year high of $33.50. The company has a market cap of $2.41 billion, a P/E ratio of -17.99 and a beta of 1.17. The firm's 50-day moving average price is $19.12 and its 200 day moving average price is $22.39.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings results on Friday, February 9th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.01). Leggett & Platt had a positive return on equity of 11.99% and a negative net margin of 2.90%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm posted $0.39 EPS. Leggett & Platt's quarterly revenue was down 6.7% on a year-over-year basis. As a group, research analysts anticipate that Leggett & Platt, Incorporated will post 1.17 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a $0.46 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.84 dividend on an annualized basis and a yield of 10.23%. Leggett & Platt's payout ratio is presently -184.00%.

Analyst Ratings Changes

Several equities analysts have weighed in on LEG shares. StockNews.com cut Leggett & Platt from a "hold" rating to a "sell" rating in a report on Monday, March 11th. Truist Financial dropped their price objective on Leggett & Platt from $18.00 to $16.00 and set a "hold" rating for the company in a report on Tuesday, March 26th. Finally, TheStreet cut Leggett & Platt from a "c" rating to a "d+" rating in a report on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $19.33.

Leggett & Platt Profile

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.