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

Tower Research Capital LLC TRC increased its stake in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 1,563.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,103 shares of the company's stock after buying an additional 36,752 shares during the period. Tower Research Capital LLC TRC's holdings in Leggett & Platt were worth $375,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC bought a new stake in shares of Leggett & Platt during the 4th quarter valued at about $666,000. Vanguard Group Inc. grew its holdings in shares of Leggett & Platt by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 15,478,476 shares of the company's stock valued at $148,593,000 after purchasing an additional 722,024 shares during the last quarter. American Century Companies Inc. raised its position in shares of Leggett & Platt by 50.3% during the 4th quarter. American Century Companies Inc. now owns 138,972 shares of the company's stock worth $1,334,000 after purchasing an additional 46,499 shares during the period. Trexquant Investment LP grew its stake in Leggett & Platt by 89.0% during the 4th quarter. Trexquant Investment LP now owns 1,177,891 shares of the company's stock worth $11,308,000 after buying an additional 554,814 shares during the last quarter. Finally, Amundi grew its stake in Leggett & Platt by 90.3% during the 4th quarter. Amundi now owns 82,890 shares of the company's stock worth $814,000 after buying an additional 39,324 shares during the last quarter. 64.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Leggett & Platt from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. 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 note on Friday, April 11th. Finally, Truist Financial reduced their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a report on Wednesday, January 29th.

Leggett & Platt Price Performance

Leggett & Platt stock traded down $0.15 during mid-day trading on Monday, hitting $9.39. The company's stock had a trading volume of 1,013,066 shares, compared to its average volume of 2,517,763. Leggett & Platt, Incorporated has a twelve month low of $6.48 and a twelve month high of $14.29. The stock's fifty day moving average price is $7.95 and its two-hundred day moving average price is $9.94. The stock has a market capitalization of $1.26 billion, a P/E ratio of -2.51 and a beta of 0.98. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70.

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

Leggett & Platt Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, March 14th. Leggett & Platt's dividend payout ratio (DPR) is currently -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.