Point72 Hong Kong Ltd Has $2.03 Million Holdings in Leggett & Platt, Incorporated (NYSE:LEG)

Point72 Hong Kong Ltd lifted its position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 7,675.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 211,254 shares of the company's stock after buying an additional 208,537 shares during the quarter. Point72 Hong Kong Ltd owned about 0.16% of Leggett & Platt worth $2,028,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in 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 acquiring an additional 722,024 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Leggett & Platt by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,751,066 shares of the company's stock valued at $45,610,000 after purchasing an additional 214,571 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Leggett & Platt by 12.4% in the 4th quarter. AQR Capital Management LLC now owns 1,632,152 shares of the company's stock valued at $15,669,000 after purchasing an additional 179,938 shares during the last quarter. Invenomic Capital Management LP lifted its stake in shares of Leggett & Platt by 64.6% in the 4th quarter. Invenomic Capital Management LP now owns 1,517,156 shares of the company's stock valued at $14,565,000 after purchasing an additional 595,684 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Leggett & Platt by 3.0% in the 4th quarter. Wellington Management Group LLP now owns 1,190,258 shares of the company's stock valued at $11,426,000 after purchasing an additional 34,972 shares during the last quarter. Institutional investors and hedge funds own 64.23% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LEG. Truist Financial lowered their price objective on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Piper Sandler reaffirmed a "neutral" rating and set a $9.00 target price (down previously from $12.00) on shares of Leggett & Platt in a research report on Friday, April 11th. Finally, The Goldman Sachs Group increased their price target on Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th.

Leggett & Platt Stock Performance

Shares of NYSE:LEG traded down $0.32 during midday trading on Monday, hitting $9.23. The company's stock had a trading volume of 1,651,795 shares, compared to its average volume of 2,494,624. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The stock's 50 day simple moving average is $8.10 and its 200 day simple moving average is $9.71. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -2.47 and a beta of 0.75. Leggett & Platt, Incorporated has a fifty-two week low of $6.48 and a fifty-two week high of $14.24.

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

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Friday, June 13th. Leggett & Platt's payout ratio is -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.