Seven Six Capital Management LLC Purchases New Stake in Leggett & Platt, Incorporated (NYSE:LEG)

Seven Six Capital Management LLC bought a new position in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 586,167 shares of the company's stock, valued at approximately $5,627,000. Leggett & Platt comprises about 4.9% of Seven Six Capital Management LLC's portfolio, making the stock its 6th largest position. Seven Six Capital Management LLC owned approximately 0.44% of Leggett & Platt as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in Leggett & Platt by 29.5% in the fourth quarter. SG Americas Securities LLC now owns 47,979 shares of the company's stock worth $461,000 after purchasing an additional 10,936 shares during the last quarter. Impact Partnership Wealth LLC purchased a new position in Leggett & Platt in the fourth quarter worth about $225,000. Blue Trust Inc. raised its stake in shares of Leggett & Platt by 461.6% in the fourth quarter. Blue Trust Inc. now owns 9,688 shares of the company's stock worth $93,000 after buying an additional 7,963 shares during the period. KBC Group NV raised its stake in shares of Leggett & Platt by 74.5% in the fourth quarter. KBC Group NV now owns 7,028 shares of the company's stock worth $67,000 after buying an additional 3,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Leggett & Platt by 18.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 97,107 shares of the company's stock worth $928,000 after buying an additional 15,377 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group raised their price objective on Leggett & Platt from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Piper Sandler reaffirmed a "neutral" rating and issued a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th. Finally, 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 note on Wednesday, January 29th.

Leggett & Platt Trading Down 1.0%

LEG traded down $0.09 during trading hours on Tuesday, reaching $9.16. 1,332,093 shares of the company's stock traded hands, compared to its average volume of 2,492,736. The firm has a 50-day moving average price of $8.12 and a 200 day moving average price of $9.71. Leggett & Platt, Incorporated has a 52-week low of $6.48 and a 52-week high of $14.24. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. The firm has a market capitalization of $1.24 billion, a PE ratio of -2.46 and a beta of 0.75.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its earnings results on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $1.02 billion during 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%. Leggett & Platt's revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. As a group, sell-side analysts predict that Leggett & Platt, Incorporated will post 1.14 EPS for the current fiscal year.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 2.18%. Leggett & Platt's dividend payout ratio is currently -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.