Tower Research Capital LLC TRC Purchases 36,752 Shares of Leggett & Platt, Incorporated (NYSE:LEG)

Tower Research Capital LLC TRC lifted its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 1,563.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 39,103 shares of the company's stock after buying an additional 36,752 shares during the quarter. Tower Research Capital LLC TRC's holdings in Leggett & Platt were worth $375,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. SRS Capital Advisors Inc. raised its stake in shares of Leggett & Platt by 555.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock valued at $30,000 after purchasing an additional 2,629 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Leggett & Platt during the 4th quarter worth about $50,000. KBC Group NV boosted its stake in Leggett & Platt by 74.5% in the 4th quarter. KBC Group NV now owns 7,028 shares of the company's stock worth $67,000 after purchasing an additional 3,000 shares during the period. Sterling Capital Management LLC lifted its stake in Leggett & Platt by 17.1% in the 4th quarter. Sterling Capital Management LLC now owns 7,972 shares of the company's stock worth $77,000 after acquiring an additional 1,163 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Leggett & Platt by 461.6% during the fourth quarter. Blue Trust Inc. now owns 9,688 shares of the company's stock valued at $93,000 after purchasing an additional 7,963 shares in the last quarter. 64.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Leggett & Platt Price Performance

NYSE:LEG traded down $0.05 on Tuesday, reaching $9.25. The stock had a trading volume of 201,376 shares, compared to its average volume of 2,513,301. 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 company has a market capitalization of $1.25 billion, a P/E ratio of -2.49 and a beta of 0.75. The stock has a fifty day moving average price of $7.94 and a 200-day moving average price of $9.91. Leggett & Platt, Incorporated has a 1-year low of $6.48 and a 1-year high of $14.29.

Leggett & Platt (NYSE:LEG - Get Free Report) last issued its quarterly 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 negative net margin of 11.67% and a positive return on equity of 17.09%. Leggett & Platt's revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. Research analysts forecast that Leggett & Platt, Incorporated will post 1.14 EPS for the current year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were given a $0.05 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.20 annualized dividend and a dividend yield of 2.16%. Leggett & Platt's dividend payout ratio is currently -5.35%.

Leggett & Platt 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.