Leggett & Platt, Incorporated (NYSE:LEG) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in Leggett & Platt, Incorporated (NYSE:LEG - Free Report) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,478,476 shares of the company's stock after acquiring an additional 722,024 shares during the quarter. Vanguard Group Inc. owned 11.53% of Leggett & Platt worth $148,593,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. SRS Capital Advisors Inc. lifted its holdings in Leggett & Platt by 555.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,102 shares of the company's stock valued at $30,000 after acquiring an additional 2,629 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Leggett & Platt during the 4th quarter valued at approximately $50,000. KBC Group NV lifted its stake in shares of Leggett & Platt by 74.5% in the 4th quarter. KBC Group NV now owns 7,028 shares of the company's stock valued at $67,000 after purchasing an additional 3,000 shares during the period. Blue Trust Inc. boosted its holdings in Leggett & Platt by 461.6% during 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 in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in Leggett & Platt during the fourth quarter valued at $97,000. Hedge funds and other institutional investors own 64.23% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LEG shares. The Goldman Sachs Group lowered their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Truist Financial lowered their price target on Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th. Finally, Piper Sandler reissued a "neutral" rating and issued a $9.00 price objective (down from $12.00) on shares of Leggett & Platt in a report on Friday.

Leggett & Platt Price Performance

Shares of LEG stock traded down $0.12 on Friday, reaching $6.83. 2,621,912 shares of the company were exchanged, compared to its average volume of 2,485,981. Leggett & Platt, Incorporated has a 1 year low of $6.54 and a 1 year high of $18.49. 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 business has a 50-day moving average price of $8.63 and a 200 day moving average price of $10.55. The company has a market cap of $920.50 million, a price-to-earnings ratio of -1.83 and a beta of 0.98.

Leggett & Platt (NYSE:LEG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. Leggett & Platt had a positive return on equity of 17.09% and a negative net margin of 11.67%. Equities research analysts forecast that Leggett & Platt, Incorporated will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.20 dividend on an annualized basis and a yield of 2.93%. Leggett & Platt's payout ratio is currently -5.36%.

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.