Schonfeld Strategic Advisors LLC Purchases 122,765 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Schonfeld Strategic Advisors LLC raised its position in shares of Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 273.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 167,706 shares of the company's stock after buying an additional 122,765 shares during the period. Schonfeld Strategic Advisors LLC owned about 0.12% of Leggett & Platt worth $1,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Leggett & Platt by 12.4% during 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 in the last quarter. Quarry LP bought a new stake in shares of Leggett & Platt during the fourth quarter worth $213,000. Oxford Asset Management LLP acquired a new stake in shares of Leggett & Platt in the fourth quarter valued at $165,000. Boothbay Fund Management LLC bought a new position in shares of Leggett & Platt in the fourth quarter valued at about $455,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Leggett & Platt during the 4th quarter worth about $131,000. Institutional investors and hedge funds own 64.23% of the company's stock.

Analysts Set New Price Targets

LEG has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Truist Financial dropped their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a report on Friday, April 11th.

Leggett & Platt Trading Up 2.6%

NYSE:LEG traded up $0.25 on Monday, hitting $9.67. 525,363 shares of the stock were exchanged, compared to its average volume of 2,514,450. 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, Incorporated has a 52 week low of $6.48 and a 52 week high of $14.24. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -2.60 and a beta of 0.75. The company's 50-day moving average price is $7.97 and its 200 day moving average price is $9.82.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. Leggett & Platt's revenue for the quarter was down 6.8% compared to the same quarter last year. On average, equities research analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $0.05 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.07%. Leggett & Platt's dividend payout ratio (DPR) is presently -5.35%.

About Leggett & Platt

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.